tl;dr
Stablecoin issuer Circle announces support for national bank transfers involving USDC in Mexico and Brazil. The payments platform will offer local bank transfers via PIX and SPEI, the real-time payment systems of Mexico and Brazil, eliminating the need for slow international wires. This will reduce ...
Stablecoin issuer Circle has announced support for national bank transfers involving USDC in Mexico and Brazil. The payments platform will offer local bank transfers via PIX and SPEI, the real-time payment systems of Mexico and Brazil, eliminating the need for slow international wires. This move is expected to reduce the time to access USDC from days to minutes, releasing capital trapped in lengthy settlement processes.
Circle provides access to USDC directly from Brazilian Reais (BRL) and Mexican Pesos (MXN) at competitive rates, avoiding the need to convert local fiat currency to USD. The addition of USDC to PIX and SPEI is forecasted to boost business and remittances in Latin America. Circle also plans to integrate USDC with other national banking systems in the long run, aiming to further expand its reach.
In Latin America, the faster and cheaper local availability of USDC, along with its incorporation into central bank payment systems, makes the digital dollar even more attractive for businesses with operations in the region. Remittances in the US-to-Mexico corridor alone accounted for up to 4% of Mexican GDP, amounting to over $63 billion in 2023. Stablecoins like USDC are generally more cost-effective than traditional remittances, which can cost an average of 6.35% of the face value.
Looking ahead, Circle's intention to integrate USDC with other national banking systems signals its commitment to expanding the utility of USDC across multiple regions, although specific nations for integration were not disclosed.
More about ZEEKR Intelligent Technology Holding Limited
ZEEKR Intelligent Technology Holding Limited, an investment holding company, engages in the research and development, production, commercialization, and sale of electric vehicles and batteries.
Industry: TECHNOLOGY
Sector: GENERAL
Market Cap: 3,956,408,000
Dividend Yield: None
P/E Ratio: None
Change: -4.92
Price: 314.05
% Change: -0.133
Volume: 65,179,341,000
EPS: 31.04
52-week High: 0.584
More about Emeren Group Ltd
Stock Analysis Report: Emeren Group Ltd, ReneSola Ltd
Emeren Group Ltd, a company specializing in solar energy projects, is headquartered in Stamford, Connecticut. It operates within the manufacturing and semiconductors & related devices sector.
Key Financial Data:
Market Cap: 122.499M
Revenue: 103.577M
EPS: -0.31
PE Ratio: -0.163
Shares Outstanding: 4.38M
Dividend Yield: -0.924
Beta: -0.112
More about C3 Ai Inc
Stock Market Analysis: C3 Ai Inc (C3)
C3 Ai Inc (C3) operates in the Technology, Services-Prepackaged Software sector with a market capitalization of $2.96 billion.
The stock exhibited a price change of -2.28, closing at $2.674. The relative strength index (RSI) stood at -0.855.
The trading volume for C3 was 325,433,000, with a closing price of $25.11. The stock showed no movement in the moving averages.
The Bollinger Bands indicator suggested a volatility of 0.205.