SAO PAULO – In a major move to expand the reach of digital currencies in Latin America, Circle, the company behind stablecoin USDC, has forged a strategic partnership with Brazilian neobank Nubank . This partnership aims to increase adoption and understanding of USDC through Nubank’s dedicated cryptocurrency platform, Nubank Crypto.
This partnership comes at a time when Brazil is seeing a significant increase in stablecoin usage, with data from the Brazilian Federal Revenue Secretariat revealing that Tether accounts for nearly 80% of all cryptocurrency transactions died in this country last year.
As part of their alliance, Circle will provide exclusive educational content on the benefits and applications of USDC through Nubank’s platform. This initiative is expected to drive further awareness and usage of USDC among Nubank’s customer base.
Circle CEO Jeremy Allaire has recognized Latin America’s growing need for access to a digital dollar, which is driving the integration of digital currencies like USDC in the region. This partnership is set to build on previous efforts by fintech company Tribal, focusing on promoting USDC to SMEs in Brazil throughout 2022.
Thomaz Fortes from Nubank expressed optimism about the partnership’s potential to open up new financial opportunities and integrate services for customers through Nubank Cripto.
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