Circle has announced that it will provide USDC stablecoin payment services to businesses in Mexico and Brazil through integration with leading banks to promote payment systems in these two countries. The use of USDC stablecoin for savings and cross-border payments has increased in emerging markets, and Brazil and Mexico have established corresponding financial systems to support such digital assets. Tether, as a major competitor of USDC, has already launched related products in these markets.

Key Points

- Circle integrates USDC stablecoin into the banking systems of Brazil and Mexico for corporate use.

- Brazil's PIX and Mexico's SPEI are payment systems created by the central banks of the two countries that support USDC transactions.

- Circle expands its stablecoin business in Latin America and plans to introduce more blockchain networks.

- USDC is the second largest stablecoin by market capitalization, second only to Tether's USDT.

- The financial use of stablecoins in emerging markets is gradually increasing, becoming an important tool for savings and cross-border payments.

- Large Brazilian companies such as Mercado Libre have entered the stablecoin field and launched stablecoins pegged to the US dollar.

- Tether has issued stablecoins pegged to local currencies in Brazil and Mexico to expand its market influence.