- Circle, the issuer of USDC, expands into Brazil through a collaboration with Nubank, aiming to enhance digital dollar access and boost the fintech landscape.
- BTG Pactual will distribute USDC to retail and institutional clients across Brazil.
- Circle aims to democratize digital assets and enhance financial security and transparency in Brazil.
Circle partners with Nubank and BTG Pactual to expand USDC access in Brazil, aiming to revolutionize the fintech landscape with digital dollars.
Circle Announces Brazil Expansion To Boost Digital Dollar Access
Circle’s launch in Brazil aims to deliver USD-backed digital dollars to a fintech-friendly market. At the Circle Forum in São Paulo, the company announced partnerships with prominent regional businesses, including BTG Pactual and Nubank. Notably, these collaborations will enable nearly instant, low-cost, and 24/7 access to USDC for users.
Collaboration With Nubank
Nubank, the world’s largest digital banking platform outside Asia, serves over 100 million customers across Brazil, Mexico, and Colombia. Last year, Nubank partnered with Circle, resulting in over 200,000 customers transacting with USDC in the region. Notably, this partnership marks a significant milestone for Nubank and its customers, who are increasingly seeking digital dollars to protect against inflation and diversify their portfolios.
Meanwhile, Thomaz Fortes, General Manager of Nubank Crypto, expressed enthusiasm for the collaboration. He highlighted the growing demand for digital dollars among Nubank’s customers and the potential for future applications.
With USDC, Nubank aims to enhance security, transparency, and diversification for its users, contributing to the democratization of digital assets and the future of digital financial transactions. Notably, Circle’s expansion into Brazil is a strategic move to support the global demand for digital products and services.
Conclusion
By partnering with key players like Nubank and BTG Pactual, Circle is poised to make digital dollars widely available in Brazil, aligning with the country’s fintech-forward ecosystem. This initiative underscores the transformative potential of blockchain technology in reshaping the financial industry.
