Circle Backs BlindPay in $3.3M Funding Round for Cross-Border Payments

Circle, a US-based stablecoin issuer, has invested $3.3 million in Brazilian fintech startup BlindPay as part of a funding round aimed at accelerating development of its cross-border payments infrastructure.

The investment seeks to build on BlindPay's existing API infrastructure for global transactions, which currently facilitates the sending and receiving of money across countries, particularly between Brazil and the US. This 'digital bridge' enables firms to convert currencies using stablecoins like USDC (the USD Coin).

In a statement, founder Bernardo Simonassi said Circle's investment is focused on building a modern infrastructure for international money transfers between Brazil and the United States, specifically using stablecoins.