Circle Partners With Nubank to ‘Catalyze’ Digital Dollar Access in Brazil

Circle Partners With Nubank to ‘Catalyze’ Digital Dollar Access in Brazil

  • Circle has announced new multiple partnerships with leading regional businesses, including Nubank, to enhance digital dollar access.
  • The partnerships involve leading businesses in Brazil.
  • Circle aims to enhance digital dollar access through these partnerships.

USDC issuer Circle has announced a strategic expansion into Brazil following a partnership with leading regional businesses, including digital banking platform Nubank.

The company made the announcement on May 29 at the Circle Forum São Paulo, an exclusive one-day event that sought to convene Brazil’s brightest minds to discuss crypto’s role in the local fintech market.

Driving Digital Dollar Access via USDC

According to the official press release, Circle has partnered with Nubank and BTG Pactual, the largest investment bank in Latin America, to launch digital asset products and enable near-instant access to USDC for users around the clock.

BTG Pactual will serve as Circle’s direct USDC distribution partner in Brazil, providing the stablecoin to its existing retail and institutional clients. 

The bank will also onboard new clients who wish to use USDC and equip the stablecoin with local banking rail capabilities to facilitate low-cost access and minting.

Meanwhile, customers can already access USDC on Nubank according to the General Manager of Nubank Cripto, Thomaz Fortes.

“Our partnership with Circle marks a significant milestone for Nubank and the access to digital dollars in Brazil. In our 100 million active user base, we see a large demand for customers to seek digital dollars as a way to protect against inflation, build their savings and in the future, spend and use it for other useful applications.” Fortes stated.

Fortes further said the partnership will democratize access to the realm of digital assets and foster the future of digital transactions.

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