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SAO PAULO – In a bid to expand the reach of digital currencies in Latin America, Circle, the company behind the USDC stablecoin, has entered into a strategic partnership with Brazilian neobank Nubank. This collaboration aims to improve the adoption and understanding of USDC through Nubank’s dedicated cryptocurrency platform, Nubank Crypto.
This partnership comes at a time when Brazil is experiencing a remarkable increase in the use of stablecoins, with data from Brazil’s Federal Revenue Secretariat revealing that Tether accounted for almost 80% of all crypto transactions in the country last year.
As part of their alliance, Circle will provide exclusive educational content on the benefits and applications of USDC through Nubank’s platform. This initiative should make USDC better known and used among Nubank’s customers.
Jeremy Allaire, CEO of Circle, recognized Latin America’s growing demand for access to digital dollars, driving the integration of digital currencies such as USDC in the region. The collaboration is expected to build on the previous efforts of fintech company Tribal, which has focused on promoting USDC to small and medium-sized businesses in Brazil throughout 2022.
Nubank’s Thomaz Fortes expressed optimism about the partnership’s potential to open up new financial opportunities and service integrations for customers through Nubank Cripto.
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