Circle has announced the expansion of its USDC stablecoin to Brazil and Mexico's payment systems, facilitating corporate customers' access to digital dollars through partnerships with leading banks in these countries.
USDC Integration with Payment Systems
According to the Tuesday statement, this move links USDC to Mexico’s SPEI and Brazil’s PIX systems, allowing companies to change local currencies, such as Brazilian Reais and Mexican Pesos, into USDC without requiring international wire transfers.
Enhancing Business Conditions
These integrations drastically reduce the time and cost of accessing USDC, making it more efficient for businesses in these G20 economies to manage cross-border transactions and corporate finances. By bypassing international intermediaries, companies can receive USDC within minutes instead of days, improving liquidity and reducing settlement times.
Expansion and Future Plans
Circle plans to continue expanding USDC’s reach by adding more banking partners and payment systems globally. The announcement follows Circle’s recent initiatives to expand its stablecoin to new blockchain networks, including the upcoming integration with the Sui Network.
Circle's expansion into Latin American markets addresses the growing demand for dollar-denominated stablecoins and offers more efficient solutions for international transfers and financial management. Businesses in Brazil and Mexico will now find it easier and faster to access digital dollars for their operations.
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