Circle与Tereina将USDC和EURC引入企业支付领域

Circle has partnered with Tereina, backed by SAP, to embed USDC and EURC into enterprise payment workflows

On October 7, 2026, Circle and Tereina, backed by SAP, announced a partnership. The two parties plan to embed USDC (U.S. dollar stablecoin) and EURC (Euro stablecoin) directly into the SAP Cloud ERP workflow. Through the SAP Pay ecosystem, eligible SAP customers can receive stablecoin settlement services denominated in US dollars and euros. According to the two companies, the ecosystem supports 84% of global business activity.

Circle's corporate payment cooperation with Tereina

According to Circle's official announcement, this integration will guide USDC to eligible U.S. dollar pricing workflows and EURC to euro pricing activities. This approach allows each stablecoin to follow its natural currency channel, rather than requiring companies to manage currency conversions as a separate step. Tereina serves as the payment infrastructure layer and is responsible for connecting Circle's regulated stablecoins to SAP's enterprise software stack.

SAP ecosystem accounts for 84% of global business share

Circle联合创始人、董事长兼CEO杰里米·阿莱尔（Jeremy Allaire）将这笔交易定义为基础设施举措，而非消费者产品发布。他表示：“稳定币正日益成为全球商业的核心基础设施层。与Tereina合作，将USDC和EURC引入企业已经使用的应用程序，是将互联网原生货币更容易集成到日常业务运营中的重要一步。”

Tereina首席执行官Cedric Bru表示：“Tereina建立在金融服务的未来是智能体驱动、嵌入式和数字化的核心信念之上。与Circle的合作使得企业在无需改变现有运营模式的情况下轻松迈向未来——稳定币支付成为他们已信任的应用程序的原生功能。”

USDC和EURC如何融入企业支付工作流

USDC在公告中的角色

USDC是Circle发行的挂钩美元的稳定币，在本次整合中被指定用于美元计价的企业工作流。它为已经在SAP ERP环境中运营的公司提供了一条绕过传统代理银行延迟的结算渠道。截至2026年10月7日，USDC的市场资本化率约为736.2亿美元，反映了该企业渠道目前有能力服务的美元计价稳定币需求的规模。

EURC在公告中的角色

EURC is a euro-denominated stablecoin issued by Circle, filling a parallel channel for euro-denominated corporate activity, making the integration relevant to European SAP customers and multinational companies operating dual-currency fund management. The clear distinction between the dollar and euro stablecoin channels in single-enterprise ERP integration is a distinctive feature; most previous stablecoin and corporate pilot projects have only focused on dollar settlement, such as the USDC settlement pilot between Lloyds Bank and Visa.

The importance of the Circle and Tereina alliance to businesses

The strategic significance lies in the entry point: SAP Pay is the existing and trusted payment interface within SAP Cloud ERP. This means that eligible companies can access stablecoin settlements without building a separate blockchain integration or establishing new supplier relationships. Because Tereina is a company backed by SAP, it reduces the purchasing friction that has historically prevented companies from adopting cryptocurrencies, as SAP's own endorsements provide a signal of compliance and vendor trust that third-party crypto integrations typically lack.

For finance and payments teams, dual-currency designs are operationally critical. A European subsidiary of a U.S. multinational that uses SAP can in principle process euro accounts payable through EURC and U.S. dollar accounts receivable through USDC in the same ERP environment, thereby eliminating FX (foreign exchange) conversions at least one level in the settlement stack. Circle's announcement states that USDC and EURC are issued by regulated Circle affiliates, which are linked to their regulatory authorizations and provide the required compliance anchor for corporate procurement approvals.

The broader trend of stablecoins entering businesses has been accumulating in the infrastructure of traditional financial institutions, with institutions increasingly viewing regulated stablecoins as settlement infrastructure rather than speculative assets. This trajectory has been strengthened as regulatory frameworks in the United States and the European Union continue to consolidate, and some institutional payment platforms are expanding stablecoin native services.

What should companies focus on next

Based on the announced business press release distribution, Circle and Tereina plan to conduct joint value verification customer projects, financial and payment expert training, and ecological partnership work in the next few months. These value verification projects are specific next triggers: their outcomes will determine whether integration will expand beyond early adopters to a broader scale, and whether SAP's stated 84% business ecosystem claim translates into actual stablecoin settlements.

What the announcement confirms and what is not confirmed

Confirmed: The partnership exists, USDC and EURC are designated stablecoins, SAP Cloud ERP and SAP Pay are integrated interfaces, and the two CEOs are listed as major participants.

Not confirmed: The announcement did not disclose the production release date, did not identify any named corporate customers, and did not provide transaction volume targets. No real-time deployment metrics have been announced, and value verification projects are described as planned rather than in progress.

Unnaming customers is standard practice for enterprise software announcements before release, but this means that the actual scale of the integration cannot currently be independently verified. Observers tracking corporate adoption of stablecoins will need to wait for disclosures of value verification projects before assessing whether Circle and Tereina's SAP pipeline will translate the announced potential into measurable settlement activity.

FAQs: Circle, Tereina, USDC and EURC

What is the Circle-Tereina partnership?

This is a commercial agreement announced on October 7, 2026, where Tereina integrates Circle's USDC and EURC stablecoins into the SAP Cloud ERP payment workflow, accessible to eligible SAP customers via SAP Pay.

What digital currencies are involved?

USDC (USD Coin) is used for dollar-denominated workflows and EURC (Euro Coin) is used for euro-denominated activities, both issued by regulated Circle affiliates.

What does SAP-supported Tereina mean in this context?

Tereina is a company backed by SAP, meaning that SAP has a financial and strategic interest in the business. This gives Tereina's payment infrastructure privileged integrated status in the SAP ecosystem, which Circle and Tereina cited as covering 84% of global business activity.

Are there roll-out or usability details confirmed?

No. The announcement describes the planned joint value verification project and expert training as the next phase, but does not name a production release date, does not provide specific usability criteria other than "eligible SAP customers", and does not list specific corporate customers currently using the integration.