What Happened?
Circle has partnered with Brazilian fintech company Matera to integrate USDC into the country’s banking system, allowing for the integration of local currency and stablecoins. Additionally, it has connected with the instant payment system launched by the Central Bank of Brazil, enabling users to make local transfers and payments using USDC.
Besides collaborating with Matera, Circle has recently launched native USDC on World Chain, allowing users to perform cross-border transfers and small payments through the World App.
Since officially listing on the New York Stock Exchange on June 5, Circle’s stock price has risen from the issuance price of $31 to over $117, resulting in a cumulative increase of 280%. Following the announcement of collaborations with Matera and World, Circle’s stock price surged by 10.7% in a single day.
Collaboration Announcement Boosts Circle’s Stock by 10.7%
The U.S. stablecoin issuer Circle has been making headlines, establishing a partnership with Brazilian fintech company Matera to promote multi-currency bank accounts and instant payment integration. Its stablecoin product USDC has also officially launched on World Chain. The positive news has led to Circle (stock code: CRCL) experiencing a significant stock price increase of 10.7% on June 11, capturing market attention.
The collaboration between Circle and Matera primarily aims to integrate USDC into the Brazilian banking system, allowing local currency and stablecoins to coexist. According to Matera, the company’s “Digital Twin” technology enables Brazilian banks to directly hold USDC alongside other multi-currency assets such as the Brazilian real and U.S. dollar, alleviating the burden on financial institutions to build complex infrastructure independently. Furthermore, this solution connects with the instant payment system Pix launched by the Central Bank of Brazil, allowing users to make local transfers and payments using USDC.
Matera CEO Carlos Netto emphasized that the interoperability between stablecoin and local currency accounts represents a key breakthrough for banks or fintech companies looking to conduct global business in a cost-effective manner with instant settlement.
Circle Launches Native USDC on World Chain
In addition to the partnership with Matera, World Chain has also announced that the previously used “bridged USDC” on the platform has now been fully upgraded to the “native USDC” directly issued by Circle. According to official data from World, over 20 million users currently hold the upgraded native USDC in their wallets, spanning more than 160 countries. The official statement indicates that these users primarily conduct cross-border transfers and small payments through mini-apps within the application.
Moreover, through Circle’s CCTP V2 cross-chain protocol, users can transfer USDC between different blockchains more quickly and at a lower cost. Developers can also directly integrate USDC into the mini-apps of the World App, reaching millions of users globally. Although World Chain was established in 2019, it will officially enter the U.S. market by the end of April 2025, launching iris scanning services in six major cities: Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco.
In contrast, World faced investigations in Europe over data privacy issues and even had operations suspended in Spain and Portugal. With the Trump administration promoting relatively friendly cryptocurrency policies, the collaboration between World Chain and Circle’s native USDC may create more favorable development conditions in the U.S. market.
Circle’s Stock Price Rises by 280%
Since its official listing on the New York Stock Exchange on June 5, Circle’s stock price has increased from the issuance price of $31 to over $117, achieving a cumulative increase of 280%. Following the announcement of collaborations with Matera and World, Circle’s stock price surged by 10.7% in a single day.
Circle CEO Jeremy Allaire stated on X: “Becoming a public company marks an important milestone in our transformation, representing that the world is ready for the upgraded era of digital financial systems.”
In addition to collaborating with World and Matera, Circle has also been actively participating in industrial investments through its venture capital division. For instance, Circle participated in the Series A financing of the cross-border payment stablecoin platform Conduit, showcasing the company’s ambition in building stablecoin infrastructure. From launching native USDC across different chains to integrating with traditional financial systems, Circle is centered around stablecoins, attempting to shape a new financial era.
Source: Cointelegraph, PYMNTS