Circle has expanded its stablecoin operations in Latin America to include Brazil and Mexico.

In a company statement, stablecoin operator Circle revealed that its (USDC) token can now be used to settle payments in Brazil and Mexico. The feature supports USDC conversion into Brazilian reais and Mexican pesos, and vice versa.

Brazilian and Mexican users no longer need to convert their fiat currencies to U.S. dollars before exchanging them for stablecoins.

Circle said businesses can acquire USDC from licensed financial providers for institutional use. The Sept. 17 announcement added that companies can also offer USDC, the second-largest stablecoin, to retail investors.

Circle now supports local bank transfers via PIX and SPEI, the national real-time payment systems in Brazil and …