Circle, the company behind the USDC stablecoin, has announced that USDC is now available in Brazil and Mexico through their national payment systems. This means that users can now send and receive USDC directly from their local bank accounts using PIX in Brazil and SPEI in Mexico.
Goodbye, Slow Wires!
Previously, sending and receiving USDC involved slow and expensive international wire transfers. Now, with the integration into PIX and SPEI, transactions are completed in minutes, making USDC a much more attractive option for businesses and individuals.
Benefits for Businesses and Individuals
- Faster Transactions: Forget waiting days for international transfers. USDC transactions are now lightning fast.
- Lower Costs: USDC offers competitive rates compared to traditional currency conversions, saving businesses money.
- Easier Access: Users can access USDC directly from their Brazilian Reais (BRL) or Mexican Pesos (MXN) accounts.
Remittances Get a Boost
The integration of USDC into these payment systems is particularly exciting for remittances. The US-to-Mexico corridor is the world’s largest remittance flow, and stablecoins like USDC are significantly cheaper than traditional remittance services.
Looking Ahead
Circle plans to expand USDC integration into other national banking systems around the world. This will make USDC even more accessible and convenient for users globally.
