Circle Launches its USDC Stablecoin in Mexico and Brazil
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Circle has expanded the availability of its USD-pegged stablecoin USDC to Brazil and Mexico. This allows for the direct conversion of Brazilian Reals and Mexican Pesos into USDC without needing to convert into USD first.
According to a press release published on Tuesday, businesses can now obtain USDC from local financial institutions and offer it to retail customers.
Circle has added support for local bank transfers via PIX in Brazil and SPEI in Mexico, national real-time payment systems.
This eliminates the need for international wires and significantly reduces the time it takes to access USDC, from days to minutes.
As of September 16, USDC holds a market share of nearly 28% among USD-pegged Ethereum stablecoins.
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