Ebury launches a new cross-border payment solution for Brazil

In the official announcement, Brazilian Government data shows that the total exports and imports between Brazil and China in 2023 alone amounted to over USD 145 billion. Therefore, this solution aims to facilitate and speed up trade between these two countries. This will benefit companies in the area in both traditional industrial and digital technology sectors. 

Companies can carry out transactions directly between the currencies

According to the press release, transactions between Brazil and China can be complex and may involve multiple intermediaries due to the difference between the Chinese currencies and their liquidity in the global market. Moreover, most transactions involve intermediary currencies such as the USD, EUR, and GBP due to the yuan's low liquidity in the global market.

Addressing this issue, the Ebury solution eliminates these complexities by helping companies carry out transactions directly between the currencies. This is already a reality for FX transactions via dealers involving BRL and yuan for foreign trade companies. 

Ebury specialises in international payments, FX solutions, and risk management tools targeted primarily at SMEs. Its offering comprises products in over 130 currencies in large markets and emerging economies, as well as international cash management, foreign trade, and FX risk management strategies. The company also provides API solutions for fintechs, agrotechs, and digital platforms in the cross-border universe.

Additionally, Ebury provides access to a global account that allows payments to be made in various countries as a local entity, using various currencies, not just the Chinese yuan. By eliminating the need for intermediary currencies, transaction costs and times are reduced since only one currency conversion occurs. This solution also benefits international digital businesses operating in Brazil, such as Chinese marketplaces, gaming companies, and SaaS.

Data on cross-border trade between Brazil and China

According to Brazil’s Federal Revenue Service, Ebury's solution is also aligned with the growth in cross-border trade between Brazil and China, which increased by  150% in the last five years. As the press release shows, in 2023 alone, Brazil's exports to China exceeded USD 95 billion, while imports amounted to just over USD 49 billion.

Since 2009, China has been Brazil’s main trade partner. With direct transactions between the Brazilian real and Chinese yuan, companies now have a more efficient and cost-effective alternative to expand their international business, which should continue the upward trend in both directions.