Finastra, a London-based financial tech provider to some of the world's largest banks, said Wednesday it will connect its payments hub to Circle’s (CRCL) USDC stablecoin, giving banks an option to settle cross-border transfers with the token.

The integration will begin with Finastra’s Global PAYplus (GPP), which processes more than $5 trillion in daily cross-border payment flows, the firms said in the press release.

The move underlines how stablecoins, a group of cryptocurrencies with prices anchored predominantly to fiat currencies like the U.S. dollar, are increasingly being tested by major financial institutions as alternatives to traditional settlement channels. Payments giants Stripe and PayPal already have their own stablecoin infrastructure in place, while several major banks, lar

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