Good morning. Intuit is entering a multi-year strategic partnership with Circle Internet Group to integrate Circle’s USDC stablecoin and infrastructure across the Intuit platform.
“Our partnership with Circle is a strategic step toward building a world-class financial platform designed for an always-on, global economy,” Intuit CFO Sandeep Aujla told me about the partnership announced on Dec. 18. “By integrating stablecoins like USDC as a new ‘digital dollar’ rail for Intuit, we will help customers move money more seamlessly by extending our platform with a 24/7, programmable method that settles transactions near-instantly and at materially lower cost.”
Intuit, a fintech company and maker of TurboTax, Credit Karma, and QuickBooks, already orchestrates across bank, card, and real-time payment methods, Aujla explained. Stablecoins add a modern, software-native rail that allows the company to move money with the same speed and intelligence as the rest of its platform, he said. When identity, wallets, and workflows come together, Intuit’s platform advantages compound, he added.
“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,” Jeremy Allaire, co-founder, chairman, and CEO of Circle, said in a statement.
