Codexa brings programmable settlement to international trade with USDC and Circle Mint
Circle helped us bring USDC into our payment and treasury infrastructure quickly, without adding the operational burden you usually expect when you introduce a new rail.”
International trade still largely runs on manual coordination. A single import can involve customs brokers, freight forwarders, banks, suppliers, and government agencies, each managing its own documents, payments, and deadlines. For the payment itself, most of that flow has depended on correspondent banking, where money moves through a chain of intermediaries subject to business-day schedules or operational cutoffs that can add time, cost, and uncertainty.
Codexa, a Brazilian foreign-trade platform, was built to simplify international trade. It runs customs clearance, freight, foreign exchange (FX), and international payments for importers and exporters in a single platform, and it operates its own FX brokerage regulated by the Banco Central do Brasil. To support that model, Codexa embraced both traditional and stablecoin rails.
As stablecoin demand grew, Codexa needed institutional digital asset infrastructure that could support rapid product development, streamline treasury operations, and fit within its regulated business model. It found that infrastructure in Circle Mint, Circle’s institutional platform for minting and redeeming stablecoins, and USDC, a Circle-issued1 dollar-referenced stablecoin. Together, they gave Codexa a direct way to add programmable USDC settlement to its growing platform.
A programmable USDC rail, built in weeks
Through its Mint account, Codexa gained direct institutional access to USDC. That access reduced the number of intermediaries in its stablecoin flow and gave Codexa a clearer path to minting, redeeming, and managing USDC inside its existing payment operations.
Codexa reports that Circle’s APIs delivered immediate operational gains, helping to automate steps that otherwise would have required manual work and many hours across multiple systems and counterparties. This efficiency allowedCodexa to scale stablecoin settlement without adding proportional back-office burden. Because Circle exposes minting, redemption, and transfers through APIs and USDC settles onchain 24/7, Codexa can automate USDC settlement in code — initiating and reconciling payments programmatically instead of through manual bank instructions.
Circle’s technology-friendly APIs and exceptional support helped us rapidly scale our treasury operations as customers embraced a faster, more flexible way to settle international trade transactions.”
Circle’s support also helped Codexa move quickly from integration to production. Circle provided responsive, strategic engagement that helped Codexa resolve exceptions quickly and maintain reliable settlement operations. Codexa moved new payment infrastructure into production in weeks rather than the months (or sometimes years) it has historically taken to stand up correspondent banking rails.
With the integration established, Codexa transitioned to steady-state operations with little need for ongoing support from Circle. By July 2026 Codexa's monthly transaction volume reached more than $800 million, up from $10 million, with approximately 20% of settlement volume moving through stablecoins alongside SWIFT flows.
Settlement customers can trust, without the complexity
Codexa abstracts away complexity for its customers. Importers and exporters can settle international transactions in USDC without holding wallets, running blockchain infrastructure, sourcing liquidity providers, or managing multiple counterparties themselves.
But a straightforward experience is only part of what enterprise customers need. Because Codexa serves large, traditional businesses, issuer credibility and operational controls are just as important as ease of use, if not more so. Circle’s regulated, compliance-focused posture gave Codexa the confidence to bring USDC into a customer-facing trade platform.
Large enterprises do not adopt new settlement infrastructure on speed alone. They need confidence in the issuer, the operating model, and the controls around the flow of funds. Circle gave us the foundation to bring USDC into a regulated trade platform in a way customers could trust.”
The right rail for every transaction
Beyond speed and trust, the model Codexa built in partnership with Circle gives its customers reach and choice. Codexa can now settle transactions that a customer’s existing bank cannot, matching each payment to the rail that fits best on speed, cost, and availability.
More broadly, as stablecoins move beyond financial institutions into the everyday operations of traditional businesses, Codexa’s model shows how a regulated trade platform can offer stablecoin settlement as one option among several — not a wholesale replacement of existing technology or partners. It’s a practical path for bringing USDC-based settlement infrastructure into the machinery of international commerce.
Note: Circle has a commercial relationship with Codexa.
1 USDC is issued by regulated affiliates of Circle. See Circle’s list of regulatory authorizations.
2 All numbers provided by Codexa as of July 22, 2026.
Circle Mint and money transmission services are provided by Circle Internet Financial, LLC. Circle Internet Financial, LLC, NMLS # 1201441, is a licensed provider of money transmission services. A full list of Circle’s licenses can be found here.
Circle is not a bank; Circle Mint is not a bank account, and any funds are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation or by any US or foreign government agency, insurance fund, person or entity.
Découvrez comment Circle peut aider votre entreprise
Inscrivez-vous pour recevoir les dernières actualités et mises à jour de Circle.
Découvrir plus d’histoires
Des dollars numériques entièrement garantis
Conçu pour des paiements mondiaux rapides et des marchés financiers disponibles 24/7, l’USDC est une monnaie numérique réglementée que vous pouvez échanger à valeur égale contre des USD.