Paytrie, a Canadian fintech company, has joined the Circle Payments Network (CPN) to offer new real-time payment options from Canada to international destinations.
Paytrie aims to improve the stablecoin payment infrastructure in Canada by leveraging Circle Payments Network.
The integration with CPN is designed to broaden the usage of stablecoins such as USDC, offering Canadians “more efficient” global money transfers, stated Paytrie.
Paytrie’s involvement with USDC dates to the company’s inception, providing Canadian users access to the stablecoin through its core platform and participating in the Circle Alliance Program to promote stablecoin adoption.
As a FINTRAC-registered Money Services Business, Paytrie offers stablecoin-based payment solutions to both individuals and businesses.
The company indicated that it will continue to build on its regulatory and product offerings, with more details on the expanded capabilities through the Circle Payments Network to be shared in due course.
Paytrie chief strategy officer Jason Tong stated: “Integrating with CPN marks an important step forward in Paytrie’s mission to modernise money movement for Canadians. We are excited to explore how stablecoins can reduce costs, increase transparency, and provide always-on settlement for individuals and businesses in Canada.”
Last month, stablecoin issuers Circle and Paxos Trust trialled a verification method for stablecoins.
This initiative, aimed at curbing counterfeit tokens and bolstering transparency, was executed in partnership with Bluprynt, a fintech startup headed by Georgetown Law School professor Chris Brummer.
The pilot leveraged Bluprynt’s cryptographic and blockchain technology, allowing companies to trace their stablecoin tokens to the original, verified issuer.
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