Circle, a global financial technology firm and the issuer of the USDC stablecoin, today announced its official launch in Brazil.
This expansion marks an opportunity to deliver highly demanded USD-backed digital dollars and digital asset infrastructure to a market at the forefront of fintech innovation and adoption.
As part of the market launch, Circle is partnering with BTG Pactual, the largest investment bank in Latin America, to serve as our direct USDC distribution partner in Brazil, providing USDC to their existing retail and institutional clients and onboarding new clients who wish to access USDC. The collaboration will equip USDC with local banking rail capabilities for near-instant and low-cost access for businesses to mint and redeem digital dollars.
“We are committed to making a positive impact in the Brazilian market and partnering with key stakeholders to empower businesses to participate in the global economy with greater ease and efficiency,” said Jeremy Allaire, Co-Founder and CEO at Circle. “There are many powerful opportunities on the horizon when Brazil’s fintech-forward ecosystem converges with the world’s most accessible dollar platform.”
Following last year’s partnership announcement with Nubank, a digital banking platform, Nubank Cripto customers in Brazil are already transacting with USDC.
“Our partnership with Circle marks a significant milestone for Nubank and the access to digital dollars in Brazil. In our 100 million active user base, we see a large demand for customers to seek digital dollars as a way to protect against inflation, build their savings and in the future, spend and use it for other useful applications,” said Thomaz Fortes, General Manager of Nubank Cripto. “With the introduction of USDC, we can open up many possibilities for our customers, enhancing the security, transparency, and diversification of our portfolio at Nubank. We are glad to partner with Circle to help democratize access to the world of digital assets and contribute to the future of digital financial transactions. We believe that there’s a new generation of financial infrastructure coming, and we’re ready for it.”
