Circle And Nubank Team Up To Expand USDC Access In Brazil

Circle And Nubank Team Up To Expand USDC Access In Brazil

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Global financial technology firm Circle has collaborated with Nubank, a prominent digital financial platform, to expand the adoption of the US Dollar Coin (USDC) in the Brazilian market.

USDC Integration in Nubank Cripto

Circle and Nubank, serving a combined 90 million customers across Brazil, Mexico, and Colombia, announced a strategic partnership to introduce USDC access to Brazilian Nubank customers. The collaboration aims to provide Nubank users with seamless access to buying and holding digital dollars through Nubank Cripto.

Circle’s USDC, the leading regulated dollar stablecoin, operates over the Internet and is fully reserved with cash and cash equivalent assets. It ensures a stable, regulated store of value, protecting against inflation and supporting various digital financial use cases.

Initially integrated into Nubank Cripto, USDC support represents a significant advancement in offering Brazilian users a regulated and stable form of digital dollars. The collaboration sets the stage for future integration with Nubank’s broader digital banking platforms, potentially unlocking a range of blockchain-based financial services for Nubank customers.

Circle CEO on Brazil-USDC Project

Jeremy Allaire, CEO and Co-Founder of Circle, expressed enthusiasm about the collaboration, highlighting the growing demand for access to dollars in Brazil positioning the country as a driving force for digital currency use in the region.

He said, 

“We continue to see strong demand across Latin America for access to dollars, specifically in Brazil, which has emerged as a driving force for digital currency use and adoption in the region. Our partnership with Nubank marks a significant moment in expanding the global reach of USDC and an important step towards building the new internet financial system.”

Educational Initiatives to Promote USDC Adoption

The collaboration between Circle and Nubank extends beyond technical integration. Both companies are committed to mutual contributions to educational campaigns aimed at raising awareness about USDC in the Brazilian market. The goal is to establish USDC as a secure, cost-efficient, and transparent method for accessing and transacting in digital dollars.

Nubank Cripto, part of one of the world’s largest digital financial services platforms, incorporates educational content about digital currencies. 

Thomaz Fortes, General Manager of Nubank Cripto, emphasized the platform's commitment to empowering users, stating,

"The integration of USDC opens up great opportunities not only for customers interested in having this digital dollar in their portfolio. Through this offering and the characteristics of Circle’s USDC, we are considering future possibilities to integrate Nubank Cripto with other financial services available in our app."

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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