The Brazilian digital bank Nubank has partnered with stablecoin issuer Circle to bring USDC stablecoin integration to Nubank’s customers. The partnership aims to gradually roll out USDC availability and access across Nubank’s products to over 85 million Brazilian users.
Initially, USDC support will launch on Nubank’s cryptocurrency platform, enabling Brazilian users to buy and hold the USD-backed stablecoin. Future plans include integrating USDC into Nubank’s broader digital banking services so customers can utilize USDC for blockchain-powered financial offerings.
Nubank believes USDC integration creates great opportunities for customers interested in digital dollars and is considering future possibilities to connect their cryptocurrency platform with other Nubank financial services. The addition of USDC meets demands from active crypto holders on their platform.
Circle’s CEO highlights strong demand in Latin America, especially Brazil, for access to US dollars. Nubank has emerged as a leader in digital currency adoption in the region. Regulated digital dollars like USDC are accessible without needing a global account and have independent audits.
With over 90 million total customers, Nubank is a major financial services provider in Brazil, Mexico, and Colombia. The bank has added 11 new cryptocurrency options to its platform this year, including USDC trading capabilities. Nubank launched crypto trading in 2022 and wants to purchase Bitcoin for its balance sheet. It also has its loyalty token called Nucoin.
#Nubank #Circle #USDC #CryptoAdoption #DigitalDollars #Brazil
