Circle Internet Group announced that it has integrated its Circle Payments Network (CPN) with Hecto Financial, a regulated South Korean fintech that offers virtual accounts and cross‑border payment services. The partnership will allow Hecto’s enterprise clients to move value in real‑time using Circle’s USDC and EURC stablecoins, providing a faster, more secure alternative to traditional correspondent banking channels.
The integration builds on Hecto’s existing cross‑border infrastructure, which currently supports KRW‑based remittances and treasury flows for large corporates. By connecting to CPN, Hecto can settle transactions 24/7 on a single API, reducing settlement times from days to seconds while maintaining full regulatory compliance with South Korea’s Financial Services Commission and the Bank of Korea’s stable‑coin guidelines. The move also gives Circle a foothold in a market that is actively exploring digital‑currency frameworks, positioning the company as a key infrastructure partner for the Korean Won‑based digital payment ecosystem.
Strategically, the deal marks Circle’s first major partnership in South Korea and signals a broader push into Asia. The company has been targeting the region as a high‑growth market for stable‑coin adoption, and the Hecto integration is expected to lift CPN’s transaction volume by an estimated 15‑20% over the next 12 months. Analysts note that the partnership could accelerate USDC circulation in the region, where the stable‑coin’s full‑reserve model aligns with local regulatory expectations for transparency and risk mitigation.
Management comments underscore the significance of the deal. Hecto CEO Jong‑won Choi said, “By integrating with Circle’s payment network, we can offer our clients instant, compliant cross‑border payments that leverage the stability of USDC and EURC, strengthening the international standing of the Korean Won.” Circle’s SVP of Product Management, Payments, Irfan Ganchi added, “Hecto’s participation demonstrates the growing confidence in Circle’s infrastructure and expands our reach into a key market for institutional stable‑coin usage.”
The partnership comes on the heels of Circle’s Q3 2025 earnings, where the company reported a 12% increase in USDC circulation to $76.3 billion and a 4% rise in revenue driven by higher usage of its payment network. Analysts upgraded Circle’s rating from “Underperform” to “Neutral” after noting the company’s expanding global footprint and the strategic value of new institutional partners like Hecto.
The deal is expected to reinforce Circle’s competitive moat in the stable‑coin payment space, providing a scalable, regulated solution that can be replicated in other emerging markets. By deepening institutional adoption and expanding its geographic reach, Circle positions itself to capture a larger share of the growing cross‑border payment market while maintaining compliance with local regulatory frameworks.
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