Circle Introduces Instant USDC Bank Transfers in Two Countries

Circle has announced that it will now support local bank transfers for USDC in Mexico and Brazil, using the countries' real-time payment systems PIX and SPEI.

This move eliminates the need for slow international wire transfers, significantly speeding up access to USDC—from days to just minutes.

The company allows direct conversions from Brazilian Reais (BRL) and Mexican Pesos (MXN) to USDC at competitive rates, bypassing the usual step of converting to USD first. Circle claims this will help businesses save on costs and enhance the efficiency of using digital dollars.

Circle believes this addition will boost business operations and remittances in Latin America.

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With the US-to-Mexico corridor being the largest remittance route globally, amounting to $63 billion in 2023, stablecoins offer a more cost-effective alternative to traditional remittances, which typically come with higher fees.

Looking ahead, Circle plans to extend USDC support to other national banking systems, though specific countries were not disclosed.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.