Intuit, the financial services firm behind popular products like TurboTax, QuickBooks, and MailChimp, agreed to a multi-year partnership with stablecoin issuer Circle, the firm announced on Thursday. The partnership creates a framework that will enable the use of Circle’s dollar-backed stablecoin—USDC—across Intuit’s products and services.
“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 Intuit CEO Sasan Goodarzi, in a statement. “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,” he added, “so money works harder and smarter for everyone.”
A highlight of the partnership focused on Intuit’s connections to taxes and refunds for taxpayers, who can now gain a “new experience” in refunds and payments using stablecoins—things that “simply weren’t possible on legacy rails.”
“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 Circle co-founder and CEO Jeremy Allaire, in a statement. “Together, we bring a shared commitment to build a more efficient financial system that unlocks powerful new capabilities for people and businesses globally.”
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