Circle Taps Plaid for ACH Payments as USDC Market Cap Hits $30B

The integration looks to provide a smoother process for getting money in and out of crypto.

AccessTimeIconSep 23, 2021 at 5:57 p.m. UTC
Updated May 11, 2023 at 5:45 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Stablecoin issuer Circle said that it is partnering with financial data aggregator Plaid to make it easier for consumers to move their money out of the bank and into Circle’s USDC.

Like its partnership with Visa, working with Plaid is another way for Circle to become more deeply integrated with networks that allow users to move faster between fiat and dollar-backed crypto tokens via the Automated Clearing House (ACH) network. USDC is among the leading stablecoins flowing across the crypto ecosystem.

“By integrating with Plaid, Circle is demonstrating – yet again – how we’re able to work with technology and finance leaders in the payment industry and leverage the power of USDC to generate frictionless economic activity,” Circle Chief Strategy Officer Dante Disparte said in a statement.

The move comes as the total value of USDC in circulation hits the $30 billion mark. Circle CEO Jeremy Allaire pointed out Wednesday:

Plaid connects to banks around the world so that other fintechs don’t have to, and the company is connected to several companies in the crypto ecosystem, ranging from the largest crypto exchange in the U.S., Coinbase, to decentralized finance (DeFi) startups like Dharma, the Uniswap-friendly DeFi wallet.

In practical terms, Circle’s bank, the New York-based Signature, will get the account information for consumers looking to buy USDC more quickly when they’re buying through Plaid-connected crypto apps.

“The Circle and Plaid combination has completely streamlined our business’s fiat to crypto operations,” Matthew Hamilton, co-founder of Linus, one of the startups using the integration, said in a statement.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Nate DiCamillo

Nate DiCamillo is a business reporter at CoinDesk with a focus on banking and economics.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.