Circle Launches USDC Token in Brazil with BTG Pactual and Nubank Partnerships
Circle, the issuer of the USDC stablecoin, has officially launched its token in Brazil. As part of this initiative, Circle has entered into partnership agreements with two major players in the country’s financial market: investment bank BTG Pactual and fintech company Nubank.
Circle sees expanding into the Brazilian market as an excellent opportunity to scale its stablecoin in a region that is actively developing innovations and new technologies. Jeremy Allaire, co-founder and CEO of Circle, noted that the main goal of the new collaboration is to facilitate Brazilian companies’ participation in the global economy by improving their financial operations.
BTG Pactual, one of the leading financial institutions in Brazil, has long been involved in financial market innovations and actively participates in the cryptocurrency space. According to Andre Portilho, head of the digital asset department at BTG Pactual, the partnership with Circle confirms the bank’s belief in blockchain technology as the foundation for future financial infrastructure.
Fintech company Nubank, which serves more than 85 million customers across Brazil, has also expressed a positive attitude towards the launch of USDC. According to Nubank representatives, its users are already actively using the stablecoin for various financial operations.
Additionally, the Central Bank of Brazil plans to introduce a regulatory framework for cryptocurrency regulation by the end of the year, which should create additional conditions for the development of the cryptocurrency market in the country.
Thus, Circle’s expansion into Brazil strengthens USDC’s position in Latin America and opens up new opportunities for growth and integration of cryptocurrencies into the traditional financial system of the region.
