Circle’s stablecoin operations in Latin America have been expanded to encompass more countries, including Brazil and Mexico
Additionally, the stablecoin operator Circle said in a statement that its USDC token can now be utilized for the purpose of settling payments in the countries of Brazil and Mexico.
Specifically, the feature allows for the conversion of US Dollars to Brazilian Reals and Mexican Pesos, as well as vice versa.
It is no longer necessary for users in Brazil and Mexico to change their fiat currencies into U.S. dollars before trading them for stablecoins since this requirement has been removed.
When it comes to institutional use, Circle stated that businesses have the ability to obtain USDC via licensed financial providers.
In addition, the announcement made on September 17 stated that businesses are permitted to provide retail investors with USDC, which is the second-largest stablecoin.
Circle relocates to the city of New York
Twenty-four hours after moving its worldwide headquarters from Ireland to New York City, the issuer of USDC announced that it would be moving its operations to Brazil and Mexico.
As a result of the new headquarters of the company being situated in the world-famous One World Trade Center, the company has strengthened its standing among the giants of Wall Street.
It is possible that moving its headquarters to New York in order to pursue an initial public offering is one of the final phases in the process.
According to reports, the company is interested in going public and has the potential to become the first stablecoin operator to issue shares on stock markets in the United States.
