Circle and HiFi Bridge have announced the launch of new B2B payments using stablecoin USDC for Brazil and Hong Kong. This collaboration aims to simplify transactions between companies.
Circle and HiFi Bridge Partnership
Circle announced its partnership with HiFi Bridge, a developer of tools for managing money between companies. This agreement enables business payments to Brazil and Hong Kong using USDC through Circle's Payment Network (CPN). Circle confirmed that HiFi Bridge's platform is already operational, providing seamless transfers.
Growth of B2B Payments and USDC Adoption
The B2B payments sector processes significant monetary flows. According to The Business Research Company, global business payments exceeded $905 billion in 2024. Latin America remains a key region for US dollar payments, with $160 billion sent there last year. In May alone, Brazil received $330 million in remittances.
Brazil and Tokenization Using Drex
Caixa Econômica Federal, a major Brazilian bank, is advancing tokenization through the digital currency Drex. The bank collaborated with payment company Elo to test tokenized transactions. The simulation involved financing real estate, with all records maintained on the Drex network. Experts note that tokenization will enhance efficiency, improve transaction tracking, and connect physical and digital assets.
The agreement between Circle and HiFi Bridge, along with Caixa's tokenization efforts, demonstrate significant advancements in B2B payments and innovative approaches to digital currency use in Brazil and beyond.
