Circle, a global financial technology company and the issuer of the stablecoin USDC, today announced its official launch in Brazil.
This expansion marks an opportunity to deliver digital dollars and high-demand USD-backed 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 act as a direct USDC distribution partner in Brazil, providing USDC to existing retail and institutional clients and onboarding new clients who wish to have USDC access. The partnership will equip the 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 on the Brazilian market and working with key stakeholders to enable businesses to participate in the global economy with greater ease and efficiency,” said Jeremy Allaire, Circle Co-Founder and CEO. “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 announcement of a partnership with Nubank, a digital banking platform, Nubank Cripto customers in Brazil are already transacting with USDC.
“Our partnership with Circle marks an important milestone for Nubank and access to digital dollars in Brazil. Based on our 100 million active users, we see a strong demand for customers to look to digital dollars as a way to hedge against inflation, build their savings and in the future, spend and use them for other useful applications,” he 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 delighted to partner with Circle to help democratize access to the world of digital assets and contribute to the future of digital finance. We believe a new generation of financial infrastructure is coming and we are ready for it.”