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Circle, in collaboration with FinTech firm Matera, has introduced a solution that allows financial institutions in Brazil to settle transactions using the USDC stablecoin directly through their existing bank accounts.
Circle, the issuer of the USDC stablecoin, has formed a strategic alliance with Matera, a prominent technology provider for the financial sector in Latin America. As stated in the press release, this partnership will enable banks and FinTech companies in Brazil to incorporate the USDC stablecoin into their routine payment processes.
With the integration of Matera’s Digital Twin platform, users will have the capability to execute cross-border transactions using fiat currencies such as BRL and USD, as well as USDC stablecoins. These transactions will utilize existing payment systems, including the national Pix network.
Matera’s Digital Twin platform will also facilitate multi-currency accounting. Users will be able to monitor balances in Brazilian reais, U.S. dollars, and USDC within a unified interface. Clients in Brazil will have the ability to use USDC for payments similarly to any standard currency, featuring instant settlement and complete compatibility with bank accounts.
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This new architecture enables organizations to handle digital assets without the necessity of creating their own blockchain infrastructure or deploying separate payment gateways. The solution will also assist in simplifying regulatory compliance.
Matera supports over 250 financial institutions across Brazil and North America. In Brazil, approximately 150 cooperative banks, which represent about one-third of all banks in the country, utilize Matera’s technology.
Daniel Mangabeira, VP of Policy and Regulatory Strategy for Brazil at Circle, noted that the integration of USDC into the banking system is a crucial advancement in developing new financial infrastructure in the region. “Interoperability between stablecoins and local currency accounts is no longer a side project — it’s now at the heart of the financial system,” remarked Carlos Netto, CEO of Matera.
Max Krupyshev, CEO of CoinsPaid, previously highlighted the specific benefits that stablecoins provide for international business. “Stablecoins are becoming a universal payment method where the dollar is used unofficially, and banks cannot meet the needs of businesses and the population,” Max stated.
Recently, Circle launched the Circle Payments Network (CPN), a global network designed for cross-border settlements utilizing stablecoins.
Сообщение Circle Integrates Stablecoins Into Brazil’s Banking Infrastructure появились сначала на CoinsPaid Media.
