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- Next-generation financial systems are rapidly shifting toward stablecoin setups, but building them traditionally requires a mess of regional regulatory and banking setups.
- Financial infrastructure platform HIFI is solving this headache by offering a unified API, taking away the need for businesses to create their own complex payment backends.
- By plugging into the Circle Payments Network (CPN), HIFI bypassed multi-million-dollar setups, pushing its transaction volume past $100 million through CPN alone.
A quiet revolution is reshaping global finance. Instead of relying on legacy banking systems, companies handling payroll, remittances, and marketplace payouts are moving to stablecoin networks like Circle to power their transactions.
Though the switch promises fast speed and worldwide reachability, its implementation poses several logistical headaches to software engineers. The engineer often ends up with a broken jigsaw puzzle of digital wallets, local banks, and stringent regulations when venturing into a new geographic region.
This is where HIFI comes into play. HIFI takes on the role of providing the underlying structure, which allows software engineers to create and integrate applications for money without worrying about creating the structure themselves. From large companies in the Fortune 100 club to young and energetic fintech startups, HIFI serves all segments.
HIFI Partners with Circle CPN to Cut Market Entry Times
Though stablecoins offer their own immediate advantages, they still cannot exist in isolation, as they require robust connections to real currency. Linking cryptocurrencies with fiat currency typically involves a long process of creating elaborate on/off ramps for payments, obtaining necessary licenses, and partnering with the local banking system.
It has been pointed out that conventional ways of expanding the market may take up to two years while costing around $500,000-$2 million per market. To avoid such expenses and delays, HIFI has partnered with the Circle Payments Network (CPN). Such partnership makes it possible for HIFI to access the existing network of traditional banks and virtual asset services worldwide.
As stated by William Yang, Head of Engineering, CPN integration offers HIFI a consistent interface without having to deal with individual partner countries one by one. Instead of taking several years to enter the new market, the company can start operating on a new territory within about three months.
HIFI Achieves $6B Annualized Volume Through Global Expansion
For companies utilizing HIFI, the integration means that other geographic locations such as Brazil, Mexico, Nigeria, and Hong Kong can be immediately accessed through the current API without having to assess other vendors and rewrite code.
This efficient approach has been very effective at fueling tremendous growth. According to Zach Walsh, Co-Founder and CEO of HIFI, the focus on coverage, speed, and cost-effectiveness is crucial when choosing infrastructure, and the partnership improves each one of those aspects. This approach has shown great success.
Currently, HIFI has already transacted more than $100 million worth of CPN as well as $500 million worth of USDC in numerous cross-border applications. Dealing with hundreds of thousands of transactions each month in over 150 countries, the annual volume of HIFI’s entire distribution network has surpassed the $6 billion mark.
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