Circle and Nubank (NYSE:NU), which claims to be one of the world’s largest digital financial platforms serving 90 million customers across Brazil, Mexico, and Colombia, announced a partnership to extend USDC access to Brazilian Nubank customers.
Circle’s USDC is the reported as being one of the leading regulated dollar stablecoins, a form of digital dollar that operates over the internet.
USDC support will initially “be rolled out as part of Nubank Cripto, providing its Brazilian users with access to buying and holding digital dollars.”
Future opportunities for integration with Nubank’s broader digital banking platforms offers the potential for Nubank’s customers “to gain the benefit of blockchain-based financial services powered by USDC.”
USDC is fully reserved “with cash and cash equivalent assets and is always redeemable 1:1 for US dollars, providing a stable, regulated store of value that protects against inflation and supports a wide array of digital financial use cases.”
Jeremy Allaire, CEO and Co-Founder, at Circle, said:
“We continue to see strong demand across Latin America for access to dollars, specifically in Brazil, which has emerged as a driving force for digital currency use and adoption in the region. Our partnership with Nubank marks a significant moment in expanding the global reach of USDC, and an important step towards building the new internet financial system.”
True to the spirit of both companies’ missions, the partnership “includes mutual contributions to educational campaigns aimed at spreading knowledge about USDC in the Brazilian market, establishing it as a secure, cost-efficient and transparent method for accessing and transacting in digital dollars. Nubank Cripto’s robust platform incorporates educational content about digital currencies to empower users to make informed financial decisions.”
Thomaz Fortes, General Manager of Nubank Cripto, said:
“The integration of USDC opens up great opportunities not only for customers interested in having this digital dollar in their portfolio. Through this offering and the characteristics of Circle’s USDC, we are considering future possibilities to integrate Nubank Cripto with other financial services available in our app.”
As covered, the cryptocurrency trading platform Nubank Cripto, Nubank (NYSE:NU) announced its integration with Talos, the provider of institutional digital asset trading technology.
With this partnership, customers who wish to trade crypto assets in Brazilian reais through the Nu app will benefit “from reduced costs through Talos’s Smart Order Routing engine and connectivity to optimize trade execution across multiple liquidity providers.”
Thomaz Fortes, leader of Nubank Cripto, said:
“Nubank Cripto will continue to evolve as a platform that combines simplicity and robustness for cryptocurrency enthusiasts. With Talos, we have made further progress in this direction to offer users even more competitive prices securely and reliably when trading cryptocurrencies through an extensive network of settlement providers.”
Currently, more than 60 partners make up “the Talos Provider Network for cryptocurrency trading operations, including the Chicago Mercantile Exchange and the Chicago Board Options Exchange.”