Cross-border payment infrastructure is moving toward a model where treasury teams do not have to wait for banking hours to replenish liquidity. Thunes is expanding its stablecoin capabilities with EURC prefunding, allowing eligible members of its Direct Global Network to use Circle’s euro-backed, MiCA-compliant stablecoin to fund payment flows around the clock.

The practical challenge with international payments is often less about moving money than keeping enough money in the right place at the right time.

Traditional treasury operations remain tied to banking schedules, settlement windows and currency conversion processes. For fintechs, neobanks and payment providers handling transactions across multiple markets, those constraints can create liquidity gaps precisely when payment demand is highest.

Thunes is attempting to address part of that problem by adding EURC, Circle’s euro-backed stablecoin, to its treasury funding infrastructure.

The company said eligible members of its Direct Global Network can now use EURC to prefund transactions and manage treasury flows continuously. The move expands a relationship between Thunes and Circle that began in 2024, when Thunes introduced USDC-powered liquidity across its global payments network.

The distinction is important. This is not simply another stablecoin payment option for consumers. EURC is being positioned as a treasury and liquidity instrument inside cross-border payments infrastructure.

Turning stablecoins into treasury infrastructure

In a conventional payment operation, a business may need to maintain balances with banking partners in different currencies and replenish those accounts according to local banking schedules.

Stablecoin-based prefunding can change that workflow.

With EURC, eligible Thunes members can fund euro-denominated payment activity outside traditional banking hours, including weekends and holidays. That gives payment providers a way to respond to sudden transaction volumes without waiting for conventional settlement cycles.

In practical terms, a fintech experiencing a spike in euro payment demand could use EURC liquidity to replenish its position and continue processing transactions rather than waiting for the next available banking window.

That makes the technology particularly relevant to businesses operating 24/7 payment platforms, where treasury operations increasingly need to match the operating hours of digital commerce.

Why EURC matters

EURC is different from an algorithmic cryptocurrency or a conventional crypto asset whose value fluctuates independently of a national currency. Circle positions EURC as a euro-backed stablecoin designed to maintain a value linked to the euro.

Its regulatory positioning also matters in Europe.

The integration gives Thunes access to a euro-denominated digital asset designed for the Markets in Crypto-Assets (MiCA) regulatory environment, providing an alternative to moving between digital assets and traditional bank money for every treasury transaction.

For Web3 companies, the potential benefit is particularly straightforward: a company holding digital assets can use a euro-denominated stablecoin directly to fund payment infrastructure rather than first converting digital assets into fiat through a separate process.

The resulting architecture effectively connects two liquidity environments—digital assets and traditional currencies.

Thunes says its network connects digital assets with more than 90 fiat currencies, serving customers that include fintech companies, neobanks, payment service providers and gig-economy platforms.

A multichain approach

Thunes is also taking a blockchain-agnostic approach.

EURC prefunding is supported across Ethereum, Solana, Base and Stellar, allowing businesses to operate across several major blockchain environments rather than being tied to one network.

That flexibility could become increasingly important as payment infrastructure becomes more fragmented.

Ethereum remains a major settlement and smart-contract ecosystem, while Solana has attracted significant interest for high-throughput financial applications. Base is backed by Coinbase, and Stellar has historically focused heavily on payments and cross-border financial infrastructure.

For treasury teams, however, the blockchain itself is secondary to the operational outcome. What matters is whether liquidity can be moved quickly, securely and at predictable cost.

The emergence of multichain stablecoin infrastructure suggests that payment companies increasingly view blockchains as settlement rails rather than standalone financial products.

Stablecoins are moving deeper into payments

The broader market is shifting in the same direction.

Circle has been expanding USDC and EURC across payment, treasury and financial infrastructure use cases, while companies including Visa, Mastercard, Stripe and PayPal have been exploring stablecoins or blockchain-based settlement in different parts of the payments ecosystem.

The strategic appeal is clear: stablecoins can potentially operate continuously, move between jurisdictions without traditional correspondent-banking infrastructure and settle on public blockchain networks.

But adoption is not frictionless.

Treasury teams still have to manage regulatory obligations, wallet security, blockchain fees, liquidity management, counterparty exposure and accounting treatment. Stablecoin liquidity also does not eliminate the need for local fiat settlement where recipients ultimately require bank money.

The technology therefore complements rather than immediately replaces conventional payment rails.

What enterprises should consider

For enterprise treasury and payments teams, the most interesting part of Thunes’ announcement may be the use of stablecoins inside the payment infrastructure rather than as an end-user novelty.

A payment provider adopting EURC prefunding would need to assess several factors: regulatory eligibility, blockchain support, conversion and redemption processes, liquidity requirements, internal controls and reconciliation.

The strongest use cases are likely to emerge where payment volume is global, transaction demand is continuous and the cost of maintaining fragmented pre-funded accounts is significant.

The model also points toward a broader convergence between fintech infrastructure, digital assets and traditional banking.

Companies such as JPMorgan, Visa, Mastercard, Stripe and PayPal are pursuing different approaches to digital settlement and programmable money, while infrastructure providers are increasingly looking to stablecoins as another component of global payment networks.

Thunes’ EURC integration fits into that larger transition.

The significance is not that a euro stablecoin can now move across several blockchains. It is that stablecoin liquidity is becoming part of the operational plumbing behind international payments.

If that model scales, treasury departments may eventually treat regulated stablecoins less like crypto products and more like another class of always-on liquidity infrastructure.

Market Landscape

Stablecoins are increasingly being evaluated as payment and treasury infrastructure, particularly for cross-border transactions where conventional banking rails can introduce delays and fragmented liquidity requirements.

Circle’s EURC gives the euro market a regulated stablecoin alternative, while USDC continues to provide dollar-denominated liquidity across a growing range of financial and blockchain networks. Thunes’ approach connects these digital assets to a broader network spanning more than 90 fiat currencies.

The competitive landscape is expanding beyond specialist fintech infrastructure. Visa and Mastercard have been developing stablecoin-related settlement capabilities, while Stripe has expanded its blockchain and stablecoin infrastructure following its acquisition of Bridge. PayPal has also developed its PYUSD stablecoin.

For enterprises, this means the question is shifting from whether stablecoins exist to where they provide measurable operational advantages.

Treasury liquidity, cross-border settlement, merchant payouts and 24/7 payment operations are among the areas where those advantages could become most tangible.

Top Insights

• Thunes is adding EURC prefunding to its payment network, giving eligible fintechs and PSPs 24/7 euro-denominated liquidity for cross-border transactions.
• Circle’s MiCA-compliant EURC connects regulated euro liquidity with blockchain settlement, potentially reducing treasury dependence on banking-hour funding cycles.
• Support across Ethereum, Solana, Base and Stellar positions stablecoins as multichain payment infrastructure rather than isolated digital-asset products.
• Fintechs, neobanks, PSPs and Web3 companies could benefit from faster treasury replenishment, particularly during weekends, holidays and transaction-demand spikes.
• Thunes’ expansion reflects a wider industry shift involving Visa, Mastercard, Stripe and PayPal toward stablecoins as payment and settlement infrastructure.

Get in touch with our fintech expert