Circle Expands to Brazil: BTG Pactual and Nubank Integrate USDC (USD Coin)

  • Circle has announced its launch in Brazil by partnering with leading regional businesses, including BTG Pactual and Nubank, to launch digital asset products and enable near-instant, low-cost, and 24/7 access to USDC for their users.
  • The issuer of renowned stablecoin USDC is expanding into the LATAM country to address the demand for USD-backed digital dollars and digital asset infrastructure as Brazil increases the adoption of the emerging asset class.
  • “There are many powerful opportunities on the horizon when Brazil’s fintech-forward ecosystem converges with the world’s most accessible dollar platform.”

Circle partners with BTG Pactual and Nubank to introduce USDC in Brazil, aiming to revolutionize the digital financial landscape with near-instant, low-cost access to stablecoins.

Stablecoins represent 90% of crypto transactions

The introduction of instant payment platform Pix in Brazil has accelerated the adoption of innovative approaches to banking and payments. Pix has over 160 million users today who are familiar with digital wallets and efficient financial rails. Stablecoins currently represent roughly 90% of the value of the crypto transactions, resulting from leading neobanks and fintechs developing new products to cater to millions interested in transacting with stablecoins. Circle aims to enhance the Brazilian financial landscape by working with these innovative companies to make digital dollars widely available via USDC.

BTG Pactual and Nubank tap USDC

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. Following last year’s partnership announcement with Nubank, the world’s largest digital banking platform outside of Asia, serving over 100 million customers across Brazil, Mexico, and Colombia, Nubank Cripto customers in Brazil are already transacting with USDC.

“There are many powerful opportunities on the horizon”

Jeremy Allaire, Co-Founder and CEO at Circle, said: “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. There are many powerful opportunities on the horizon when Brazil’s fintech-forward ecosystem converges with the world’s most accessible dollar platform.” André Portilho, Head Digital Assets at BTG Pactual, added: “Since 2017, BTG Pactual has been at the forefront of financial market innovations, actively participating in the crypto space. Our commitment to innovation led us to create Mynt, our own Crypto trading platform. We are proud to be the first bank to issue a security token and a USD stablecoin in the world and also the first bitcoin fund by a financial institution in Brazil. Our partnership with Circle is a testament to our belief that blockchain technology will form the new infrastructure of the financial industry. These milestones underscore our dedication to pushing the boundaries and shaping the future of digital assets.” Thomaz Fortes, General Manager of Nubank Cripto, commented: “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. 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.”

Conclusion

Circle’s strategic partnerships with BTG Pactual and Nubank signify a pivotal moment in the Brazilian financial sector. By integrating USDC into the local market, Circle is not only addressing the growing demand for stablecoins but also paving the way for a more inclusive and efficient financial ecosystem. As Brazil continues to embrace digital assets, these collaborations are set to enhance financial accessibility and innovation, offering a glimpse into the future of global financial transactions.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

FLM Coin: In-Depth Analysis and Future Price Predictions of Flamingo Finance

Flamingo Finance, a DeFi platform built on...

Argentina Teams Up with Solana (SOL) for Groundbreaking Forma Project to Boost Economic Prosperity

Argentina, a Latin American country often associated...

Bitcoin Transaction Fees Hit Lowest Since November 2023 as Network Activity Drops

Bitcoin transaction fees have been steadily declining...

Coinbase Report Highlights Uncertainty Around Bitcoin and Ethereum Markets in Q3 2024

The latest report from Coinbase, the largest...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

FLM Coin: In-Depth Analysis and Future Price Predictions of Flamingo Finance

Flamingo Finance, a DeFi platform built on...

Covalent (CQT) Coin: Comprehensive Blockchain Data Analysis and Future Price Predictions

Covalent emerges as a groundbreaking software integrating...

MOCA Coin: An In-Depth Look at Its Potential and Latest Price Analysis

MOCA Coin, LayerZero v2 protokolünde geliştirilen ve...

Ethereum Price Analysis: Potential Drop to $2,700 as Resistance Holds Strong

Ethereum's price trajectory has seen significant volatility,...

Bitcoin Price Analysis: Is BTC Poised for a Breakout Despite Current Downtrend?

Bitcoin's recent price movements have left many...
Marisol Navaro
Marisol Navarohttps://en.coinotag.com/
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

FLM Coin: In-Depth Analysis and Future Price Predictions of Flamingo Finance

Flamingo Finance, a DeFi platform built on the Neo blockchain ecosystem, offers innovative services for token swapping, liquidity provision, and staking. ...

Argentina Teams Up with Solana (SOL) for Groundbreaking Forma Project to Boost Economic Prosperity

Argentina, a Latin American country often associated with Bitcoin, is gearing up for a surprising partnership involving an alternative cryptocurrency. Solana...

Bitcoin Transaction Fees Hit Lowest Since November 2023 as Network Activity Drops

Bitcoin transaction fees have been steadily declining in the months following the most recent halving event. Recent data indicates an 18%...