Circle Demonstrates 72-Second Cross-Border Payment from USD to BRL
Circle Demonstrates 72-Second Cross-Border Payment from USD to BRL
🚀 72 Seconds to Brazil
Circle, the company behind USDC stablecoin, has demonstrated a breakthrough in cross-border payments technology. During a test phase, they successfully executed a USD to Brazilian Real (BRL) transfer in just 72 seconds.
This development follows Circle's strategic expansion into Latin America, particularly their USDC integration in Brazil and Mexico announced in September 2024. The initiative aims to:
- Enable real-time cross-border payments
- Improve financial inclusion in Latin America
- Streamline international transactions
- Reduce traditional transfer times and costs
The test represents a significant advancement in international payment systems, potentially revolutionizing how money moves across borders.
“There’s no cross-border real-time payment system – yet. In test mode, we moved USD to BRL in just 72 seconds, end to end. Let that sink in." - @sunilsharma_eth, VP, Product at Circle
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