USDC Integrates with Brazil and Mexico  Payment Systems

Circle yesterday revealed its integration of the USDC stablecoin with payment systems in Brazil and Mexico for corporate clients through partnerships with prominent banks.

This allows businesses to access USDC directly from local financial institutions in Brazil via the PIX system, established by the Central Bank of Brazil in 2020 and used by nearly 160 million individuals.

In Mexico, the USDC stablecoin is connected to the country’s central bank’s SPEI system.

This announcement in Latin America coincides with Circle’s expansion of their stablecoins to other networks, such as the Sui Network (SUI), as announced by their CEO, Jeremy Allaire.

Currently, USDC is the second-largest stablecoin, with a market cap of $35.50 billion and a 24-hour trading volume of $6.51 billion, only behind Tether’s USDT.