Launching USDC In Brazil Market, Circle Partners With Local Fintech Leaders

JAKARTA Circle, a global financial services company and USDC stablecoin publisher, has announced its official launch in Brazil. This expansion is in order to introduce USD-backed digital dollars and digital asset infrastructure to the innovation market and fintech adoption.

Circle Collaborates With Local Fintech Leaders

Circle collaborates with regional business leaders, including BTG Pactual and Nubank, to launch digital asset products that allow USDC access instantly, cost-effective, and are available to its users. The move comes at a time when fintech adoption increases exponentially, resulting from pro-novation policies and initiatives, such as the introduction of the Pix instant payment platform in 2020. Pix currently has more than 2020.

As part of the market launch, Circle partnered with BTG Pactual, the largest investment bank in Latin America, to act as USDC's direct distribution partner in Brazil, providing USDC to existing retail and institutional clients and registering new clients looking to access USDC. This collaboration will equip USDC with local banking rail capabilities for fast and cost-effective access to print and redeem digital dollars.

Crypto Portfolio Security And Diversification

Nubank, which has provided access to USDC for its customers in Brazil, revealed that Circle's expansion will increase its security, transparency and diversification of its crypto portfolio for more than 100 million active users. The partnership set up in December 2023 between banks and Circle aims to make the digital dollar more accessible to its customers.

Quoted from CoinSpeaker, Total Portilho, senior executive at BTG Pactual, states that partnerships with Circle are evidence' of their belief in the potential of blockchain technology to transform the traditional financial industry. Our partnership with Circle is a testament to our belief that blockchain technology will form a new infrastructure for the financial industry. This milestone affirms our dedication to driving restrictions and shaping the future of digital assets, "said Portilho.

Strengthened by Thomaz Fortes, general manager of crypto Nubank, also expressed his enthusiasm for this partnership, We are pleased to partner with Circle to help democratize access to the digital asset world and contribute to the future of digital financial transactions. We believe that there is a new generation of financial infrastructure to come, and we are ready for that," he said.

Jeremy Allaire, CEO of Circle, added, We are committed to having a positive impact on the Brazilian market and partnering with key stakeholders on empowering businesses to be able to participate in the global economy more easily and efficiently, stressing that expansion to the Brazilian market will bring many opportunities to the fintech sector in the country.