Circle and ACI Worldwide have announced a proof of concept in Colombia to explore how USDC stablecoin settlements could work within existing banking and payment systems.
According to the companies’ October 27 announcement, the project will combine Circle’s digital dollar infrastructure with ACI Connetic, a cloud-based platform that manages transactions across different payment networks. Colombia will be the first market, supported by ACI’s existing role in the country’s Bre-B instant payments network.
The project is still in the testing and evaluation stage. Neither company has announced live USDC settlements through Bre-B, named participating banks, or provided a date for commercial operations.
The goal is to show how banks could add stablecoin settlements to their existing payment, treasury management, and transaction monitoring systems without replacing their current infrastructure.
ACI Connetic brings traditional payment methods, card transactions, and digital assets together through one platform. This could allow financial institutions to explore USDC settlements while continuing to use familiar operating systems and controls.
ACI Worldwide’s global head of account-to-account payments, Craig Ramsey, said financial institutions want practical ways to introduce digital assets without disrupting their current operations. He described the project as an opportunity to test stablecoin settlements using infrastructure banks already trust.
Circle Chief Commercial Officer Kash Razzaghi said financial institutions across Latin America are showing growing interest in using stablecoins within existing payment systems. He said the collaboration would help explore USDC settlements while maintaining connections with traditional financial infrastructure.
Colombia was selected because ACI developed key infrastructure supporting Bre-B, the country’s interoperable instant payments network. The system allows customers to transfer money between accounts at participating financial institutions using infrastructure established with Banco de la República, Colombia’s central bank.
ACI provides services including the addressing directory, round-the-clock clearing and settlement engine, and systems that connect participating payment providers.
In March, ACI reported that Bre-B had processed more than 500 million transactions during its first five months. However, those figures relate to the existing payment network and not to the new USDC project. The companies have not reported any USDC transaction volumes or settlement values from the proof of concept.
The announcement also does not explain exactly how USDC will connect to Bre-B or which financial institutions will take part. The project is exploring an additional settlement method, not moving existing Bre-B transactions onto a blockchain.
Circle’s initiative comes as the company continues to expand USDC access through banks and payment providers. CEO Jeremy Allaire has discussed plans to enter around 40 additional emerging and developing markets, with Latin America among the regions where Circle sees demand. Specific launch dates and licensing arrangements for individual markets have not been disclosed.
Colombia already has other stablecoin-related services. In September, MoneyGram introduced a Visa card that allows eligible customers to hold dollar-linked balances, make purchases, and access local cash services. That offering focuses on consumer payments, while the Circle-ACI project is aimed at settlement processes used by financial institutions.
Circle has also partnered with Standard Chartered to provide eligible institutions with access to digital-dollar custody and transfers through established financial channels.
Despite these developments, several details of the Colombia project remain unclear. The companies have not identified participating banks, confirmed whether the planned transactions will be domestic or cross-border, or explained how USDC would be converted into Colombian pesos.
They have also not specified whether settlement would take place directly on a public blockchain or through an intermediary, and no expected transaction fees or processing times have been announced.
Circle and ACI said the proof of concept will help financial institutions evaluate ways to combine traditional payment networks with digital assets. For now, there is no confirmed commercial launch date, committed transaction volume, or list of participating financial institutions.