Fintech
USDC Issuer Circle announces entry into the Brazilian fintech sector
Circle, a global financial technology company and issuer of the regulated stablecoin USDC, has revealed its official entry into the Brazilian market. This strategic move aims to bring digital currency and dollar-backed infrastructure to a region known for its thriving fintech scene.
By partnering with leading local businesses such as BTG Pactual and Nubank, Circle intends to introduce digital asset products that facilitate quick, convenient, 24-hour access to USDC.
This expansion coincides with a period of notable fintech
Fintech Financial Technology (fintech) is defined as a technology aimed at automating and improving the provision and application of financial services. The origin of the term fintech dates back to the 1990s, when it was mainly used as a back-end system technology for renowned financial institutions. However, it has since grown outside of the business sector with a greater focus on consumer services. What are fintechs for? The main purpose of fintechs would be to provide financial technology (fintech) defined as a technology oriented towards automating and improving the provision and application of financial services. The origin of the term fintech dates back to the 1990s, when it was mainly used as a back-end system technology for renowned financial institutions. However, it has since grown outside of the commercial sector, with a greater focus on consumer services. What are fintechs for? The main purpose of fintechs would be to provide Read this term adoption, driven by forward-thinking policies such as the 2020 launch of the Pix instant payment platform, which boasts a user base exceeding 160 million. Stablecoins currently dominate around 90% of crypto transactions. Circle aims to improve Brazil’s financial ecosystem working with innovative partners to democratize access to digital dollars through the USDC.
André Portilho, Head of Digital Assets at BTG Pactual, Source: LinkedIn
As part of its market entry strategy, Circle has partnered with BTG Pactual, Latin America’s largest investment bank, to serve as the primary distribution channel for USDC in Brazil. This collaboration will allow BTG Pactual to provide existing retail and institutional clients with access to USDC, as well as welcome new clients seeking exposure to the digital currency.
The partnership will also provide the USDC with local banking capabilities, facilitating the quick and cost-effective minting and redemption of digital dollars for businesses.
“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 Crypto trading platform. We are proud to be the first bank to issue a USD security token and stablecoin in the world and also the first bitcoin fund by a financial institution in Brazil,” said André Portilho, Head Digital Assets at BTG Pactual.
Impact of the collaboration in the Brazilian market
Jeremy Allaire, CEO and co-founder, Circle, Source: LinkedIn
Building on the previous collaboration announcement with Nubank, a digital banking platform serving over 100 million customers in Brazil, Mexico and Colombia, Nubank Crypto customers in Brazil are already engaged in transactions involving USDC.
“We are committed to having a positive impact on the Brazilian market and collaborating with key stakeholders to enable businesses to participate in the global economy with greater ease and efficiency,” said Jeremy Allaire, co-founder and CEO of Circle.
“There are many powerful opportunities on the horizon as Brazil’s fintech ecosystem converges with the world’s most accessible dollar platform.”
Circle, a global financial technology company and issuer of the regulated stablecoin USDC, has revealed its official entry into the Brazilian market. This strategic move aims to bring digital currency and dollar-backed infrastructure to a region known for its thriving fintech scene.
By partnering with leading local businesses such as BTG Pactual and Nubank, Circle intends to introduce digital asset products that facilitate quick, convenient, 24-hour access to USDC.
This expansion coincides with a period of notable fintech
Fintech Financial Technology (fintech) is defined as a technology aimed at automating and improving the provision and application of financial services. The origin of the term fintech dates back to the 1990s, when it was mainly used as a back-end system technology for renowned financial institutions. However, it has since grown outside of the business sector with a greater focus on consumer services. What are fintechs for? The main purpose of fintechs would be to provide financial technology (fintech) defined as a technology oriented towards automating and improving the provision and application of financial services. The origin of the term fintech dates back to the 1990s, when it was mainly used as a back-end system technology for renowned financial institutions. However, it has since grown outside of the business sector, with a greater focus on consumer services. What are fintechs for? The main purpose of fintechs would be to provide Read this term adoption, driven by forward-thinking policies such as the 2020 launch of the Pix instant payment platform, which boasts a user base exceeding 160 million. Stablecoins currently dominate around 90% of crypto transactions. Circle aims to improve Brazil’s financial ecosystem working with innovative partners to democratize access to digital dollars through the USDC.
André Portilho, Head of Digital Assets at BTG Pactual, Source: LinkedIn
As part of its market entry strategy, Circle has partnered with BTG Pactual, Latin America’s largest investment bank, to serve as the primary distribution channel for USDC in Brazil. This collaboration will allow BTG Pactual to provide existing retail and institutional clients with access to USDC, as well as welcome new clients seeking exposure to the digital currency.
The partnership will also provide the USDC with local banking capabilities, facilitating the quick and cost-effective minting and redemption of digital dollars for businesses.
“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 Crypto trading platform. We are proud to be the first bank to issue a USD security token and stablecoin in the world and also the first bitcoin fund by a financial institution in Brazil,” said André Portilho, Head Digital Assets at BTG Pactual.
Impact of the collaboration in the Brazilian market
Jeremy Allaire, CEO and co-founder, Circle, Source: LinkedIn
Building on the previous collaboration announcement with Nubank, a digital banking platform serving over 100 million customers in Brazil, Mexico and Colombia, Nubank Crypto customers in Brazil are already engaged in transactions involving USDC.
“We are committed to having a positive impact on the Brazilian market and collaborating with key stakeholders to enable businesses to participate in the global economy with greater ease and efficiency,” said Jeremy Allaire, co-founder and CEO of Circle.
“There are many powerful opportunities on the horizon as Brazil’s fintech ecosystem converges with the world’s most accessible dollar platform.”