The Circle Pressroom

Company Updates
Press Release
May 29, 2024

Circle Launches in Brazil to Catalyze Digital Dollar Access

Partnering with local fintech leaders to enable low-cost and streamlined access to USDC 

São Paulo, Brazil – May 29, 2024 – Today at Circle Forum São Paulo, Circle, a global financial technology firm and the issuer of the leading regulated stablecoin, USDC, announced its official launch in Brazil. This strategic expansion marks an opportunity to deliver highly demanded USD-backed digital dollars and digital asset infrastructure to a market at the forefront of fintech innovation and adoption. Circle is partnering with leading regional businesses, including BTG Pactual and Nubank, to launch digital asset products and enable near-instant, low-cost and 24/7 access to USDC for their users. 

The move comes at a time of exponential fintech adoption resulting from pro-innovation policies and initiatives, such as the 2020 introduction of the instant payment platform Pix. Pix has over 160 million users today who are familiar with digital wallets and efficient financial rails. Stablecoins currently represent roughly 90% of the value of the crypto transactions, resulting from leading neobanks and fintechs developing new products to cater to millions interested in transacting with stablecoins. Circle aims to enhance the Brazilian financial landscape by working with these innovative companies to make digital dollars widely available via USDC. 

As part of the market launch, Circle is partnering with BTG Pactual, the largest investment bank in Latin America, to serve as our direct USDC distribution partner in Brazil, providing USDC to their existing retail and institutional clients and onboarding new clients who wish to access USDC. The collaboration will equip USDC with local banking rail capabilities for near-instant and low-cost access for businesses to mint and redeem digital dollars.

“We are committed to making a positive impact in the Brazilian market and partnering with key stakeholders to empower businesses to participate in the global economy with greater ease and efficiency,” said Jeremy Allaire, Co-Founder and CEO at Circle. “There are many powerful opportunities on the horizon when Brazil’s fintech-forward ecosystem converges with the world’s most accessible dollar platform.”

“Since 2017, BTG Pactual has been at the forefront of financial market innovations, actively participating in the crypto space. Our commitment to innovation led us to create Mynt, our own Crypto trading platform. We are proud to be the first bank to issue a security token and a USD stablecoin in the world and also the first bitcoin fund by a financial institution in Brazil,” said André Portilho, Head Digital Assets at BTG Pactual. “Our partnership with Circle is a testament to our belief that blockchain technology will form the new infrastructure of the financial industry. These milestones underscore our dedication to pushing the boundaries and shaping the future of digital assets.”

Following last year’s partnership announcement with Nubank, the world’s largest digital banking platform outside of Asia, serving over 100 million customers across Brazil, Mexico, and Colombia, more than 200,000 customers are already transacting with USDC in the region.  

"Our partnership with Circle marks a significant milestone for Nubank and the access to digital dollars in Brazil. In our 100 million active user base, we see a large demand for customers to seek digital dollars as a way to protect against inflation, build their savings and in the future, spend and use it for other useful applications,” said Thomaz Fortes, General Manager of Nubank Cripto. “With the introduction of USDC, we can open up many possibilities for our customers, enhancing the security, transparency, and diversification of our portfolio at Nubank. We are glad to partner with Circle to help democratize access to the world of digital assets and contribute to the future of digital financial transactions. We believe that there's a new generation of financial infrastructure coming, and we´re ready for it."

Circle’s expansion into Brazil is part of the company’s strategy to support the growing demand for digital products and services worldwide. For more information about Circle and its offerings in Brazil, please visit: