CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

CoinDesk 2025-06-02 10:00:00

Crypto Payments Firm RedotPay Enlists Circle Payment Network in Brazil

Hong Kong-based RedotPay, a crypto payment fintech serving over four million users, has partnered with stablecoin issuer Circle’s new payment network (CPN), to take the headache out of Brazil’s cross-border transactions. The CPN collaboration means RedotPay users can now send cryptocurrency directly to Brazilian bank accounts, with funds automatically converted into Brazilian Real (BRL) upon arrival, the companies said on Monday. Stablecoins for payments are growing rapidly , with various estimates about the potential market size for blockchain rails and dollar-pegged tokens. Circle, issuer of the second-largest stablecoin, USDC, introduced the CPN in April, to capture some of the cross-border payments and remittances space. RedotPay, which recently raised a $40 million funding round, says it’s on a mission to make global payments more accessible for underbanked populations by reducing transaction costs, as well as eliminating the traditional one to five business day settlement period typically associated with international transfers. RedotPay is addressing two major pain points that have historically hindered cross-border payments in emerging markets, according to Michael Gao, CEO & Co-Founder of RedotPay. “For users, the process has been slow and costly with high foreign exchange rates and handling fees,” Gao said in a statement. “Transaction success rates have also been inconsistent. For Payment Service Providers (PSPs), capital has often been trapped in prefunded accounts with different PSPs or banks across multiple countries.”

阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约