Circle Launches USDC Payouts to Brazil and Hong Kong as CRCL Stock Nears $210

Andrew Chen
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Key Takeaways:

  • Circle launched USDC-powered payouts to Brazil and Hong Kong via the HiFi-integrated Circle Payments Network.
  • Global remittance potential and local banking integrations signal a major strategic expansion.
  • CRCL stock briefly surged to $210 following the announcement, underscoring investor optimism.

Circle, the fintech firm behind the USDC stablecoin, is accelerating its global payments strategy with the launch of stablecoin-based payouts to Brazil and Hong Kong. This bold move is aimed at transforming cross-border transactions into fast, low-cost, and seamless experiences—just as global remittance volumes continue to grow.

Circle and HiFi Bridge Unlock Cross-Border Payments

In collaboration with HiFi Bridge, Circle has activated new corridors between the United States, Brazil, and Hong Kong via the Circle Payments Network (CPN). With HiFi’s API now live, developers and businesses can send stablecoin payments across borders instantly, bypassing traditional banking delays and paperwork.

The real-time settlement framework offers a user-friendly approach for global remittances and business transactions. Circle emphasized its goal clearly: “No delays. No bilateral setups. Just internet speed payments.”

Targeting the $1 Trillion Remittance Opportunity

Circle’s latest expansion aligns with its ambitions in the trillion-dollar remittance market. According to the Migration Data Portal, global remittances reached $905 billion in 2024—a 4.6% increase year-over-year. With Brazil representing a key corridor in Latin America and Hong Kong serving as a major financial hub in Asia, the integration of USDC into these regions could position Circle as a leading remittance enabler.

CRCL Stock Spikes as Market Reacts to the News

Following the announcement, Circle’s publicly traded shares (CRCL) surged to a session high near $210 before settling down by 1.2%. Investor confidence in Circle has remained strong following its explosive IPO, where the stock skyrocketed from $31 to over $254 in just 12 trading days, briefly lifting its market cap to $62 billion—higher than USDC’s own supply at the time.

Also Read: Circle Applies for US Trust Bank License to Boost USDC Custody Amid Regulatory Shift

Beyond cross-border payments, Circle is also embedding USDC into local banking infrastructure. Last month, the company partnered with Brazil’s top fintech, Matera, allowing banks to offer parallel accounts in USDC and BRL with real-time settlements through PIX. This integration brings USDC to millions of users within everyday apps, effectively transforming stablecoins from niche assets into core financial tools.

Circle’s broader ambitions include becoming a regulated banking entity. The firm has applied for a national trust bank license from the U.S. Office of the Comptroller of the Currency. If approved, Circle’s First National Digital Currency Bank would provide custodial services for both retail and institutional users, solidifying its leadership in digital finance.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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