USDC is now integrated into the banking systems of Brazil and Mexico, allowing businesses to use the USD-pegged stablecoin directly through local financial institutions.
Circle has integrated its USD-pegged stablecoin USD Coin (USDC) with Brazil and Mexico’s national real-time payment systems.
According to a Sept. 17 announcement, the stablecoin is now available within both countries’ baking systems. The integration allows businesses to directly access USDC from local financial institutions without international wire transfers, said Circle. Companies in the countries can use the stablecoin for corporate purposes and offer it to retail customers.
“Eliminating international wires can drastically reduce the time it takes to access USDC – from days to just minutes, releasing capital trapped in the lengthy settlement processes,” said the company.
