Circle and Matera Collaborate to Integrate USDC into Real-Time Banking Systems
The partnership between stablecoin issuer Circle and Brazilian banking technology firm Matera is aimed at integrating the USD Coin (USDC) directly into real-time banking systems. This initiative allows financial institutions using Matera’s Digital Twin ledger to offer USDC alongside Brazilian Reais (BRL) and U.S. Dollars (USD).
By incorporating USDC, users can manage multiple currency balances within a single digital interface without necessitating the overhaul of existing systems. The integration leverages local payment rails such as Brazil’s instant payment system PIX, thus facilitating faster and lower-cost cross-border transactions in digital dollars.
According to representatives from Matera, this move aims to transform stablecoins into active mediums of exchange, reframing them beyond passive stores of value. The company’s Digital Twin system now supports USDC natively, opening new possibilities for both domestic and international financial operations.
Circle’s officials noted that embedding USDC into Matera’s infrastructure will enable Brazilian financial institutions to offer faster and more transparent global payments, with the stablecoin functioning as if it were a local currency in supported platforms.
USDC is a dollar-backed stablecoin issued by Circle’s regulated affiliates and backed by liquid cash and equivalent reserves, offering redemption at 1:1 for USD. This partnership is part of Circle’s broader initiative to provide accessible digital currency infrastructure globally.
Supporting a New Banking Model
The collaboration supports the development of a ‘stablecoin-ready’ banking model, where blockchain-based currencies operate within regulated financial systems. This partnership stands out as one of the first in the region to directly interoperate between local currency accounts and stablecoins within a bank-grade core ledger environment.
Source: Matera and Circle Join Forces to Turn Stablecoins into a Payment Method Integrated with Core Banking Systems