RedotPay Leverages USDC Through Circle Partnership to Revolutionize Crypto Payments in Brazil

Hong Kong-based cryptocurrency payment platform RedotPay has integrated Circle’s Payment Network (CPN) to enable seamless cross-border transactions in Brazil. This partnership allows RedotPay’s four million users to send cryptocurrencies directly to Brazilian bank accounts, with automatic conversion to Brazilian Real (BRL).

The CPN network is powered by Circle’s USDC, the second-largest stablecoin by market capitalization, targeting the rapidly growing remittance and cross-border payment sector. RedotPay recently raised $40 million in funding to reduce transaction costs and settlement times for underbanked populations.

"Traditional cross-border payments remain slow, expensive, and plagued by inconsistent success rates," stated Michael Gao, CEO of RedotPay. The collaboration addresses these challenges through blockchain infrastructure and stablecoin technology.