USDC, the U.S. dollar-pegged stablecoin issued by Circle, has now been officially launched in Brazil and Mexico.
Circle pointed out in a statement released on Tuesday that USDC is currently integrated into the two countries’ official instant payment systems, Brazil’s PIX and Mexico’s SPEI, which allows companies to obtain USDC directly from local financial institutions, thereby eliminating the need for cross-border remittances. cumbersome process.
Circle further stated that in the past, corporate customers had to convert local currencies into U.S. dollars in advance before obtaining USDC, but this new initiative allows customers to directly convert Brazilian Real (BRL) and Mexican Peso (MXN) into USDC. In addition to saving costs, it also greatly shortens the transfer time.
Circle now supports PIX and SPEI, the national instant payment systems of Brazil and Mexico, which significantly shortens the time to obtain USDC from days to minutes, freeing up funds stuck in the lengthy settlement process.
As of September 16, USDC has a market share of 28% in the field of Ethereum USD stablecoins, making it the second largest stablecoin after Tether (USDT) and the sixth largest cryptocurrency by market capitalization. The market capitalization is as high as US$35.5 billion.
〈Stablecoin integrates national instant payment system! USDC officially enters the Brazilian and Mexican markets> This article was first published on "Blocker".
