Digital Financial Giant Nubank Partners with Circle for USDC Integration

cryptonews.com:

The Brazilian neobanking unicorn Nubank is furthering its crypto adoption journey by partnering with USDC issuer Circle.

According to Circle’s press release, the partnership aims to extend USDC access to Brazilian Nubank customers. Nubank’s announcement added that the USDC availability in the country will be “gradually rolled out.”

The press release stated that,

“Availability of USDC on Nubank’s crypto platform is phase one of extending USDC access across Nubank’s products to more than 85M Brazilian customers.”

Initially, USDC support will be launched on the crypto platform Nubank Cripto. This will enable its Brazilian users to buy and hold the USD-backed stablecoin.

Future plans include integration with Nubank’s “broader digital banking platforms.” Therefore, the customers will benefit from blockchain-based financial services powered by USDC, the bank said.

Thomaz Fortes, General Manager of Nubank Cripto, opined that the USDC integration creates “great opportunities” for customers interested in having digital dollars in their portfolio.

He added that, “through this offering and the characteristics of Circle’s USDC, we are considering future possibilities to integrate Nubank Cripto with other financial services available in our app.”

The partnership includes contributions by both companies to campaigns that spread knowledge about USDC in the Brazilian market, said the announcement.

Furthermore, Nubank Cripto found that the USDC addition to the app meets the demands of active crypto holders. It also “keeps up with the constant evolution of the platform.”

Circle CEO Jeremy Allaire commented that there is a “strong demand” across Latin America for access to dollars. This is specifically the case in Brazil. This country, said