Fintech company Brex Inc., a San Francisco-based provider of corporate credit cards and expense management software trusted by over 30,000 companies including one in three US startups, has launched a new stablecoin payment platform. This development allows corporate clients to accept and send payments using Circle's USDC stablecoin, with incoming payments automatically converted to USD and deposited into Brex accounts. Clients can also send USDC directly from their balances and even pay credit card bills with stablecoins, marking a significant step in blending traditional finance with digital assets.

Brex's platform, powered in partnership with Column Bank N.A., will roll out in the coming months. Here's a breakdown:

• Acceptance of Payments: Businesses can receive USDC payments, which are instantly converted to fiat USD for seamless integration into existing financial workflows.
• Sending Payments: Clients can disburse funds in USDC directly from their Brex balances, enabling quick settlements.
• Credit Card Payments: Users can settle Brex credit card balances using stablecoins, adding flexibility to expense management.
• Security and Compliance: Leveraging Circle's established USDC infrastructure ensures regulatory compliance and stability, as USDC is fully backed by dollar reserves.

This integration is designed to cater to tech-savvy startups and enterprises already familiar with crypto, streamlining operations without requiring major overhauls.

This integration allows Brex's corporate clients to utilize stablecoins for payments, streamlining transactions and potentially reducing cross-border fees. The decision aligns with a broader industry trend of financial platforms incorporating cryptocurrency to meet client demand for more efficient and flexible payment options.