Circle stock declined 0.80% to $80.19 in Thursday's intraday trading following stronger-than-expected U.S. jobless claims data. The stock fell $0.64 during the October 8 session, trading below the report's $80.84 resistance level. According to market reports, the decline occurred as cryptocurrency prices weakened, with Bitcoin trading near $82,700 and CoinGlass data showing more than $400 million in crypto liquidations over the preceding 24 hours. Technical analysis identifies $81.30-$81.40 as the next resistance zone, with support levels at $79.11 and $79 on the downside. The weakness was linked to broader market reactions to reports of White House requests for military strike options against Iran, which caused oil prices to rise and Treasury yields to move toward recent highs.
Circle has announced a strategic partnership with SAP-backed Tereina to integrate USDC and EURC stablecoins into SAP business software, starting with SAP Cloud ERP. According to Circle's announcement on October 7, eligible companies will be able to send and receive stablecoin payments through applications they already use. USDC will serve as the preferred stablecoin for dollar-denominated payments, while EURC will support euro-denominated activity. The companies plan to begin customer proof-of-value programs over the coming months before expanding implementations. Tereina, a payments firm backed by SAP, launched SAP Pay on October 6, 2026, after 2.5 years of development, with Circle and Tereina confirming their partnership a day later. The joint announcement, datelined Palo Alto, California and New York, states the integration is designed to let eligible businesses send and receive stablecoin payments without leaving the enterprise applications they already use.
The partnership leverages SAP's extensive enterprise reach, with the company stating its customers generate 84% of global commerce. As reported by Circle, the integration addresses an SAP ecosystem linked to 84% of global commerce. SAP's July 2026 corporate fact sheet independently states that its customers generate 84% of total global commerce, with 99 of the world's 100 largest companies using SAP products and 86 using SAP S/4HANA. The partnership connects Circle's stablecoins with SAP Pay, which Tereina operates inside SAP Cloud ERP, allowing finance teams to access supported stablecoin payment functions without moving transactions into separate applications. SAP Pay is available at launch in the US and UK, covering 89 global payment corridors. For American enterprise customers, SAP's cloud service can process transactions for customers or affiliates domiciled in the United States or European Union, supporting ACH, electronic funds transfers, wires, checks, and USDC payments through one connection.
The partnership utilizes Arc, Circle's Layer 1 blockchain, as the preferred blockchain for initial payment workflows. According to Circle's announcement, Arc gives the partnership a blockchain developed specifically around Circle's stablecoin infrastructure. Circle launched Arc's public mainnet on September 16, 2026, with the network using USDC for transaction fees and launched with more than 100 institutional and ecosystem builders. SAP Pay currently supports more than 40 currencies and 89 payment corridors, covering ACH, wire transfers, checks, electronic funds transfers and stablecoin payments through one connection. The platform includes automated reconciliation, fraud detection and multi-rail routing, with Tereina claiming SAP Pay can cut payment costs by up to 25% by partnering with existing service providers rather than competing head-on. The integration is intended to provide eligible businesses with a path to Circle's stablecoin infrastructure from environments they already run, rather than requiring separate systems for stablecoin payments.
Circle's latest reserve data places USDC circulation at $74.1 billion as of October 5, backed by $74.3 billion in total reserves. As reported by Circle, USDC activity has expanded significantly, with the company reporting $14.8 trillion of USDC on-chain transaction volume during the second quarter of 2026, up 151% from a year earlier. USDC circulation stood at $73.3 billion at the end of that quarter. Circle Payments Network reached $14.7 billion in annualized transaction volume based on the trailing 30 days at the end of the second quarter, with 175 financial institutions enrolled in the network. The companies state the two digital currencies give participating businesses additional choice in how they move and settle value, with access to blockchain-based settlement and new options for managing global payments and treasury operations. A footnote to the release notes that USDC and EURC are issued by regulated affiliates of Circle.
Tereina and Circle plan to run proof-of-value programs with customers during the coming months, including training treasury and payments specialists and working with ecosystem partners on stablecoin-enabled enterprise payment projects. According to Circle CEO Jeremy Allaire, stablecoins are becoming a "core infrastructure layer for global commerce" and described integration with existing business applications as a way to make digital money easier for enterprises to use. Tereina CEO Cedric Bru stated the company wants stablecoin payments to become "a native feature" inside applications businesses already use, though neither company has disclosed which SAP customers will participate first or how many businesses have committed to testing USDC or EURC through the new integration. The inclusion of EURC alongside USDC provides European companies with a native alternative to converting everything through dollars, particularly valuable given SAP Pay's availability in both the US and UK markets. The companies also intend to gather data on enterprise stablecoin adoption as implementations progress.
