Initially, USDC support will be introduced through Nubank Cripto, allowing Brazilian users to purchase and hold digital dollars. Subsequent integration with Nubank's extensive digital banking platforms holds the promise of offering customers the advantages of blockchain-driven financial services facilitated 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.
Circle’s officials have observed high demand for dollar access in Latin America, particularly in Brazil, where digital currency usage and adoption are at a high level. The collaboration with Nubank represents an important step in expanding the global influence of USDC and a significant stride towards constructing 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.
Representatives from Nubank said that 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, they are considering future possibilities to integrate Nubank Cripto with other financial services available in their app.
Circle is a global financial technology firm that enables businesses of all sizes to benefit from the use digital currencies and public blockchains for payments, commerce, and financial applications worldwide. Circle is the issuer of USDC and EURC - highly liquid, interoperable, and trusted money protocols on the internet. Circle’s open and programmable platform and APIs make it easy for organisations to run their internet-scale business, whether it is making international payments, building globally-accessible Web3 apps or managing their internal treasury.
Nubank is a digital financial services platform, serving around 90 million customers across Brazil, Mexico, and Colombia. The company leverages proprietary technologies and innovative business practices to create new financial solutions and experiences for individuals and SMEs that are simple, intuitive, convenient, low-cost, empowering, and human.
Guided by a mission to fight complexity and empower people, Nubank is fostering the access to financial services across Latin America, connecting profit and purpose to create value for its stakeholders and have a positive impact on the communities it serves.
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