Intuit partners with Circle to integrate USDC stablecoin across platforms

Intuit Inc. (NASDAQ: INTU) announced a multi-year strategic partnership with Circle Internet Group Inc. (NYSE: CRCL) to integrate stablecoin technology across its financial platforms including TurboTax, QuickBooks, and Credit Karma.

The agreement establishes a framework for Intuit to use Circle's stablecoin infrastructure and USDC digital currency to enable faster and lower-cost money movement services for its approximately 100 million customers worldwide.

"Our partnership with Circle will expand our capabilities to layer stablecoins onto Intuit's trusted platform as we put money at the center of everything we do, so money works harder and smarter for everyone," said Sasan Goodarzi, CEO of Intuit.

The partnership aims to create new financial experiences in areas including tax refunds, remittances, savings, and payments using programmable stablecoin technology that operates continuously without traditional banking hour restrictions.

"Together, we bring a shared commitment to build a more efficient financial system that unlocks powerful new capabilities for people globally," said Jeremy Allaire, Co-Founder, Chairman and CEO of Circle.

Intuit operates in a market that processes more than $100 billion in annual tax refunds, positioning the company to leverage stablecoin technology for faster refund distribution. The company stated that stablecoins provide a programmable money system that can be integrated across its platform to enable financial services not possible with traditional banking infrastructure.

The partnership involves a subsidiary of Circle Internet Group Inc. and builds on Intuit's existing financial technology offerings that serve consumers, businesses, and accounting professionals through its suite of products.

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