Intuit to Use Circle's Stablecoin for Financial Platforms
Intuit has entered a multi-year strategic partnership with Circle to integrate USDC stablecoin infrastructure into its platforms, including TurboTax, Credit Karma, QuickBooks, and Mailchimp. This collaboration aims to enable faster, lower-cost payments for business transactions, tax refunds, and marketing activities. USDC, the second-largest stablecoin with a market cap over $77 billion, is set to benefit from recent U.S. regulatory progress following the passage of the GENIUS Act, which is expected to expand the stablecoin market by providing clearer guidelines for issuers. The announcement indicates stablecoins will be embedded across Intuit’s services. This partnership comes after Circle received conditional federal approval to operate as a national trust bank, alongside similar approvals for other crypto companies such as Ripple, BitGo, Fidelity Digital Assets, and Paxos.
