Circle Expands Local Currency Support for $USDC Transactions

Circle has expanded its Circle Mint platform to support direct local-currency $USDC on- and off-ramps across eight currencies. The expansion is aimed at businesses and eligible Mint customers, including payment providers, financial institutions, and fintechs.

The supported currencies include the Brazilian real, British pound, Hong Kong dollar, Mexican peso, offshore Chinese yuan, Singapore dollar, in addition to USD and EUR. Foreign exchange is handled inside Mint, eliminating the need for a separate conversion step or pre-funding additional accounts.

Customers can activate cross-currency exchange by linking a bank account for the local-currency side and registering that account for the currency they intend to trade. The process involves a quote, trade, and settlement process, with $USDC arriving in the Mint balance after conversion.