The agreement gives Intuit access to Circle's infrastructure for faster and lower-cost payment flows tied to tax refunds and business payouts.
Circle USDC News
Intuit signed a multiyear partnership with Circle to integrate USDC-based stablecoin payments across TurboTax and QuickBooks, the financial software company announced Thursday. The agreement gives Intuit access to Circle's infrastructure for faster and lower-cost payment flows tied to tax refunds and business payouts.
Circle issues USDC, the world's second-largest dollar-backed stablecoin with over $78 billion in circulating supply. The partnership focuses on embedding stablecoin settlement into existing products, though Intuit did not specify rollout timelines or whether users will directly hold USDC or if it functions initially as back-end payment infrastructure.
The deal provides Circle exposure to Intuit's tax and small-business payment flows, representing one of the largest recurring money movement channels in consumer finance. Intuit processes billions of dollars annually across tax refunds, payroll, invoicing, and small-business payments while serving more than 100 million customers.
Stablecoins have attracted growing interest from large payments and fintech firms as alternatives to traditional rails like ACH and wire transfers, particularly for round-the-clock and cross-border settlement. Interest has strengthened following clearer U.S. regulatory backdrop after passage of the GENIUS Act earlier this year, which established the country's first federal framework for dollar-backed stablecoins.
Circle continues to position USDC as a compliant settlement layer for incumbents following recent deals with Visa and major crypto exchanges. Earlier this week, Visa launched stablecoin settlement services for U.S. banks using USDC on Solana, enabling institutions to move funds on-chain for back-end payment flows.
The company has expanded distribution through partnerships with major crypto exchanges, including Bybit, as it seeks to widen USDC's global reach. The Intuit agreement represents another step in Circle's broader push to place USDC deeper into mainstream financial infrastructure.
Intuit stated the partnership will enable faster and lower-cost payments through platforms focused on business transactions, tax refunds, and marketing. Circle CEO Jeremy Allaire said the deal will extend the speed, power, and efficiency of USDC for everyday financial transactions across Intuit's product ecosystem.
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