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ATLANTA - Corpay, Inc. (NYSE:CPAY), a $22.5 billion market cap payment solutions provider with robust annual revenue of $4 billion and an impressive 78% gross profit margin, announced Wednesday a new collaboration with a subsidiary of Circle Internet Group, Inc. (NYSE:CRCL) to expand stablecoin access across its global payment channels. According to InvestingPro analysis, Corpay currently appears slightly undervalued, suggesting potential upside for investors.
The partnership will embed Circle’s USDC stablecoin across Corpay’s cross-border payment infrastructure, enabling 24/7 settlement capabilities for businesses utilizing Corpay’s services.
Under the agreement, Corpay will integrate Circle Mint and related APIs into its platform, allowing clients to access and manage USDC directly. Customers will be able to fund Corpay-branded digital wallets powered by Circle Wallets, enabling blockchain settlement alongside traditional fiat balances.
The collaboration will permit businesses to fund transactions in USDC, with payouts available in local currencies across more than 80 countries. Corpay is also working to enable its commercial card products—including fleet, purchasing, and travel cards—to draw directly from USDC balances, with transactions authorized on blockchain and settled in fiat automatically.
"By working with Circle and adding USDC to our funding and disbursement capabilities, we’re giving our clients a new real-time option that complements the payment networks they already trust," said Mark Frey, Group President at Corpay Cross-Border Solutions, in the press release.
Kash Razzaghi, Chief Business Officer at Circle, stated, "Working with Corpay represents the next evolution of how businesses move money globally—faster, more transparently, and with the power of blockchain infrastructure."
Corpay, an S&P 500 company, provides commercial cards and AP automation solutions to businesses worldwide. Circle is a global fintech firm that issues the USDC stablecoin.
In other recent news, Corpay has announced its agreement to acquire Alpha Group in a deal valued at approximately £1.8 billion. This acquisition includes an enterprise value of £1.6 billion for Alpha Group. In addition, Corpay has appointed Peter Walker as its new Chief Financial Officer, effective July 21, 2025. Walker brings extensive experience from his previous roles, including CFO at Instructure Holdings. On the analyst front, BMO Capital has reiterated its Outperform rating for Corpay, maintaining a price target of $410.00. This follows their analysis of Corpay’s potential acquisition of Alpha Group, which is expected to positively impact Corpay’s earnings per share. Keefe, Bruyette & Woods also maintained their Outperform rating for Corpay, highlighting the strategic nature of Corpay’s acquisition of a stake in AVDX. Analyst Rufus Hone from BMO Capital expressed confidence in Corpay’s ability to achieve durable double-digit organic revenue growth, especially in the Vehicle Payments and Corporate Payments segments.
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