Quick take:
- The partnership allows Intuit to leverage Circle’s comprehensive stablecoin infrastructure and USDC across the Intuit platform.
- The company sees stablecoins as the next logical step in its evolution as it continues to help consumers and businesses navigate taxes, credit, and cash flow at scale.
- Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle, believes Intuit’s massive scale and industry leadership make it an ideal platform to scale USDC for everyday financial transactions.
Intuit, the global financial technology and services provider known for various business software, including Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, on Thursday said it signed a multi-year, strategic partnership with Circle to accelerate next-generation financial services powered by stablecoin technology.
The partnership allows Intuit to leverage Circle’s comprehensive stablecoin infrastructure and USDC across the Intuit platform. After establishing itself as an innovator in global financial technology, Intuit sees stablecoins as the next logical step in its evolution as it continues to help consumers and businesses navigate taxes, credit, and cash flow at scale.
Commenting on the announcement, Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle, said in a statement: “Intuit’s massive scale and industry leadership make it an ideal platform to extend the speed, power, and efficiency of USDC for everyday financial transactions. Together, we bring a shared commitment to build a more efficient financial system that unlocks powerful new capabilities for people globally.”
Sasan Goodarzi, CEO of Intuit, commented: “Intuit is at the forefront of financial innovation to deliver faster, lower-cost, and programmable money movement to millions of consumers and businesses to fuel their success. Our partnership with Circle will expand our capabilities to layer stablecoins onto Intuit’s trusted platform as we put money at the center of everything we do, so money works harder and smarter for everyone.”
Intuit said stablecoins give it a programmable, 24/7, low-friction money rail that can be embedded across its platform to unlock new experiences in refunds, remittances, savings, and payments, which were not possible on legacy rails.
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