Intuit and Circle Partner to Unlock the Future of Money Movement with Stablecoins
Partnership to enable USDC capabilities for faster, lower-cost, and global financial experiences across Intuit TurboTax, QuickBooks, and Credit Karma
Intuit (NASDAQ:INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, today announced it has signed a multi-year, strategic partnership with Circle Internet Group, Inc. (NYSE:CRCL) ("Circle")1, one of the world's leading internet financial platform companies, to accelerate next-generation financial services powered by stablecoin technology. The agreement establishes a framework for Intuit to leverage Circle's comprehensive stablecoin infrastructure and USDC across the Intuit platform.
"Intuit is at the forefront of financial innovation to deliver faster, lower-cost, and programmable money movement to millions of consumers and businesses to fuel their success," said Sasan Goodarzi, CEO of Intuit. "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."
"Intuit's massive scale and industry leadership make it an ideal platform to extend the speed, power and efficiency of USDC for everyday financial transactions," said Jeremy Allaire, Co-Founder, Chairman and CEO of Circle. "Together, we bring a shared commitment to build a more efficient financial system that unlocks powerful new capabilities for people globally."
Intuit has a long track record as an innovative global financial technology company, helping consumers and businesses navigate taxes, credit, and cash flow at scale. Stablecoins are the next logical step; they give Intuit a programmable, 24/7, low-friction money rail that can be embedded across the Intuit platform to unlock new experiences in refunds, remittances, savings, and payments that simply weren't possible on legacy rails.
Accelerating money benefits for global prosperity
Building on decades of customer trust and deep domain expertise, Intuit is the global technology leader that fuels financial success. The company's platform uses data along with artificial intelligence and human intelligence to power prosperity for consumers, businesses, and accountants. Intuit is uniquely positioned to deliver superior financial outcomes by synthesizing tax, credit, banking, invoice, and payroll data to understand its customers' full financial situation. As a scaled tax player, Intuit participates in one of its customers' most significant annual financial events and provides exceptionally fast access to tax refunds, which can be customers' largest paycheck of the year. This expertise allows Intuit to operate in a market with more than $100 billion in annual tax refunds.
Intuit remains committed to investing in its money platform to deliver market-leading solutions for fast money, lending, and banking. All Intuit products and platform innovations are built with a strong commitment to data privacy, security, and responsible governance.
1 The partnership is with a subsidiary of Circle Internet Group, Inc.
About Intuit
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.
About Circle
Circle (NYSE:CRCL) is one of the world's leading internet financial platform companies, building the foundation of a more open, global economy through digital assets, payment applications, and programmable blockchain infrastructure. Circle's platform includes the world's largest stablecoin network anchored by USDC, Circle Payments Network for global money movement, and Arc, an enterprise-grade blockchain designed to become the Economic OS for the internet. Enterprises, financial institutions, and developers use Circle to power trusted, internet-scale financial innovation. Learn more at circle.com.
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