Circle and Tereina bring USDC and EURC payments into SAP Pay

What happened

Circle and SAP-backed Tereina announced a partnership on October 7 to bring USDC and EURC payments into SAP Pay and SAP Cloud ERP. Eligible companies can send and receive stablecoin payments inside tools they already use. Circle said USDC will serve as the preferred stablecoin for eligible dollar-denominated payments, while EURC will support euro-denominated activity.

Arc, Circle's Layer 1 blockchain, will be the preferred blockchain for the initial payment workflows. Tereina and Circle plan customer pilots, training programs and enterprise stablecoin studies over the coming months. Circle and Tereina did not name participating customers, expected payment volume or a deployment timetable.

SAP describes SAP Pay as an embedded payment service that handles traditional rails alongside stablecoins. SAP Pay covers more than 40 currencies and 89 payment corridors, and rails such as ACH, wire transfers, checks and electronic funds transfers sit alongside stablecoin payments in one connection. SAP says customers can use a pre-integrated Circle Mint account for USDC payments, while payment execution runs through SAP workflows and companies control payment timing, currency and method.

Why it matters

SAP's enterprise reach is a central part of the agreement. Circle's release says the integration addresses an SAP ecosystem linked to 84% of global commerce, and a July 2026 SAP corporate fact sheet separately puts its customers at 84% of total global commerce. That document says 99 of the world's 100 largest companies use SAP products, while 86 use SAP S/4HANA. For Circle, the deal opens a route into finance teams that already run payments inside SAP.

Tereina CEO Cedric Bru said the goal is to make stablecoin payments a native feature inside enterprise applications. Circle CEO Jeremy Allaire said stablecoins are increasingly part of payment infrastructure globally, and he said the partnership can bring USDC and EURC into everyday business operations.

The rollout begins with SAP Pay and SAP Cloud ERP, and the companies have not announced a full deployment timetable beyond the initial customer programs. CoinGape reported that Circle has also urged changes to MiCA stablecoin rules as it seeks more regulatory access in key markets.

What the data shows

USDC circulation stood at $74.1 billion on October 5, according to Circle's latest reserve data. SAP Pay covers more than 40 currencies and 89 payment corridors. In a separate report, CoinGape said crypto exchange OKX raised funds at a $25 billion valuation, with Circle among the investors.

Background

Circle has been growing its footprint in enterprise stablecoin payments. The partnership follows Circle's push for regulatory access in key markets, including its call for changes to MiCA stablecoin rules. Tereina and Circle also plan to work with ecosystem partners on payment settlement, treasury operations and cross-border value movement.

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