Circle, together with FinTech company Matera, launched a solution enabling financial institutions in Brazil to settle transactions in the USDC stablecoin directly through existing bank accounts.
Circle, the issuer of the USDC stablecoin, entered into a strategic partnership with Matera, a leading technology provider for the financial system in Latin America. According to the press release, as part of this collaboration, banks and FinTech operators in Brazil will be able to embed the USDC stablecoin into everyday payment operations.
Thanks to integration with Matera’s Digital Twin platform, users will be able to perform cross-border transfers using fiat currencies BRL and USD supported by the platform, as well as USDC stablecoins. These transfers will use existing payment rails, including the national Pix system.
Matera’s Digital Twin platform will also provide multi-currency accounting. Users will be able to view balances in Brazilian reais, U.S. dollars, and USDC within a single interface. Clients in Brazil will be able to use USDC for payments just like any regular currency, with instant settlement and full compatibility with bank accounts.
The new architecture allows organizations to manage digital assets without the need to develop their own blockchain infrastructure or implement separate payment gateways. The solution will also help ease regulatory compliance.
Matera serves over 250 financial institutions across Brazil and North America. In Brazil alone, about 150 cooperative banks, roughly one-third of all banks in the country, use Matera’s technology.
According to Daniel Mangabeira, VP Policy and Regulatory Strategy for Brazil at Circle, integrating USDC into the banking system is a key step toward building 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,” added Carlos Netto, CEO of Matera.
Max Krupyshev, CEO of CoinsPaid, previously detailed the specific advantages stablecoins offer 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 introduced the Circle Payments Network (CPN), a global network for cross-border settlements using stablecoins.
Сообщение Circle Integrates Stablecoins Into Brazil’s Banking Infrastructure появились сначала на CoinsPaid Media.
