CandleFocus

Circle's USDC in Brazil and Mexico Now Available to Businesses Via Banking System

Author: Content Editor
Circle, a leading stablecoin issuer, has announced that it has connected its USDC stablecoin with payment systems in Brazil and Mexico. Through partnerships with major banks, businesses in these countries can now access USDC directly through the PIX payment system in Brazil and the SPEI system in Mexico, both established by their respective central banks. This move by Circle comes as the company expands its stablecoins to other networks, such as the layer-1 blockchain Sui Network. Stablecoins are increasingly being used for everyday financial activities in emerging markets like Brazil, including savings, currency conversion, and cross-border payments. Circle's USDC, currently the second-largest stablecoin in terms of market capitalization, has a market cap of $35.50 billion.

Related News