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Bloomberg

Circle Partners With Brazil's Matera on Multi-Currency Payments

Brazilian fintech Matera is partnering with leading stablecoin issuer Circle Internet Group Inc. to allow traditional banks in Brazil to support multi-currency operations. The partnership will leverage Matera's real-time ledger, Digital Twin, to allow banks to hold stablecoin balances directly within their platforms. This will enable Brazilian reais, US dollars and stablecoin USDC to coexist in a single environment, facilitating payments and eliminating the need for a correspondent banking system, which often brings settlement delays and added costs from intermediaries.