Fintech company Intuit has announced a long-term strategic partnership with Circle to incorporate the USDC stablecoin into its products, including TurboTax and QuickBooks. USDC, a digital currency pegged to the US dollar and built on blockchain technology, is known for its stability and transparency. By accepting USDC, Intuit’s offerings—TurboTax, which aids individuals and businesses with tax filing, and QuickBooks, an accounting software for small businesses—aim to facilitate faster and more convenient financial transactions while promoting cryptocurrency adoption. This move comes amid a global trend of financial institutions and tech companies integrating cryptocurrency and blockchain into their services. The partnership is expected to enhance the utility and innovation of Intuit’s products and provide users with a secure and reliable digital currency payment option. While this development opens up new opportunities for cryptocurrency use in financial products and services, it also entails risks such as regulatory changes and market volatility. Intuit and Circle’s collaboration is poised to advance the role of cryptocurrency in the financial sector.
Source: decrypt
