Close Menu
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Categories
  • Altcoins (1,456)
  • Analysis (1,639)
  • Bitcoin (2,228)
  • Blockchain (1,317)
  • DeFi (1,540)
  • Ethereum (1,509)
  • Event (56)
  • Exclusive Deep Dive (1)
  • Landscape Ads (2)
  • Market (1,584)
  • Press Releases (2)
  • Reddit (878)
  • Regulation (1,480)
  • Security (2,107)
  • Thought Leadership (3)
  • Videos (41)
Hand picked
  • The German banking giant Sparkassen to offer the crypto exchange at 50 million customers by 2026
  • Coinbase (COIN) News: Launch U.S. Perp-Style Futures, Buys Bitcoin (BTC) Weekly, CEO Says
  • Giant Spanish coffee OKs $ 1.17 billion Bitcoin strategy
  • TonCoin: Can an increase of 42% in whale entries propel ton $ 3.28?
  • Bitcoin could test $ 104,500 before reaching new heights
We are social
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Facebook X (Twitter) Instagram
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Events
Altcoin ObserverAltcoin Observer
Home»Blockchain»Circle Expands USDC Stablecoin Access to Sony Blockchain in Brazil and Mexico – Ledger Insights
Blockchain

Circle Expands USDC Stablecoin Access to Sony Blockchain in Brazil and Mexico – Ledger Insights

September 24, 2024No Comments2 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Circle Usdc Stablecoin.7.jpg
Share
Facebook Twitter LinkedIn Pinterest Email


As stablecoins move toward broader mainstream adoption, USDC issuer Circle made two announcements this week on the topic. Through a partnership with Sony Block Solutions Lab, a bridged version of USDC will be available on Sony’s new blockchain, Soneium. The Japanese giant has global ambitions for its blockchain. Additionally, residents of Brazil and Mexico can now purchase USDC using local payment rails. This is instead of having to convert the local currency into dollars before purchasing the stablecoin. Circle referenced the commercial payments use case.

The deal with Sony involves locking USDC into the Ethereum blockchain and bridging it to Soneium, a layer-2 blockchain. Sony has big plans for the blockchain and significant intellectual property it can deploy, including that of Sony Music, Sony Pictures (formerly Columbia Pictures), and Sony PlayStation. The company says it wants to “ignite emotions, foster creativity, and meet diverse needs to become mainstream.”

Access to stablecoins in Brazil and Mexico

In the Brazilian and Mexican initiatives, Circle has partnered with local banks to enable local currency conversion. In May, it signed an agreement with BTG Pactual, which it described as its “direct distribution partner” in Brazil. It also said BTG would provide local rail banking capabilities, including access to Pix, the instant payment network.

In late 2023, Circle partnered with another Brazilian partner, Nubank, which also has a presence in Mexico where it has applied for a banking license. It is unclear whether Nubank provides connectivity to SPEI, Mexico’s fastest payment system.

As part of the announcement, Circle outlined the $800 billion in trade between Mexico and the United States and the fact that 95% of Brazil’s cross-border trade is denominated in dollars.

A recent report on stablecoins by Brevan Howard Digital and Castle Island Ventures highlighted numerous examples of Latin American cryptocurrency exchanges and mobile apps where stablecoins were used for cross-border money transfers or as a hedge against volatile exchange rates.




Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleAI tokens lead weekly gains after Fed interest rate cut
Next Article This Cryptocurrency Could Be Extremely Lucrative

Related Posts

Blockchain

the elimination of binance and the evolution of an innovative blockchain

July 1, 2025
Blockchain

Why artists turn to XRP for freedom of creation

June 30, 2025
Blockchain

Valr Champions New Financial Order in Istanbul Blockchain Week – DL News

June 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Single Page Post
Share
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Featured Content
Event

Philippine Blockchain Week 2025 Welcomes Global Web3 Trailblazers to Manila

June 9, 2025

Manila, Philippines – June 9, 2025 — As Philippine Blockchain Week (PBW) 2025 returns for…

Event

ETHMilan 2025 Returns With a Stellar Line-Up at One of Milan’s Most Iconic Venues

June 5, 2025

Milan, Italy – Mark your calendars! ETHMilan, Italy’s largest international Ethereum and Web3 conference, is…

1 2 3 … 49 Next
  • Facebook
  • Twitter
  • Instagram
  • YouTube

TonCoin: Can an increase of 42% in whale entries propel ton $ 3.28?

July 1, 2025

Solana Rival following herself for major outperformance after correction, according to the CEO of Real Vision, Raoul Pal

June 30, 2025

The eyes of a bracing token $ 50 new ATH while Perps Trading reaches 1.571 Billion of dollars in volume – is that the break?

June 30, 2025
Facebook X (Twitter) Instagram LinkedIn
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
© 2025 Altcoin Observer. all rights reserved by Tech Team.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 107,231.73
ethereum
Ethereum (ETH) $ 2,486.65
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.24
bnb
BNB (BNB) $ 656.20
solana
Solana (SOL) $ 153.91
usd-coin
USDC (USDC) $ 1.00
tron
TRON (TRX) $ 0.279856
dogecoin
Dogecoin (DOGE) $ 0.164893
staked-ether
Lido Staked Ether (STETH) $ 2,485.90