Coinbase Launches Direct BRL-USDC Trading with 85% Cost Cut
Coinbase has launched direct BRL-USDC trading on its Advanced platform, allowing Brazilian users to buy and sell USDC directly using local currency. This move is expected to reduce the cost of USDC on-ramping through BRL by 85%, making it easier for users to access dollar-linked liquidity.
The new trading option was announced as part of Coinbase's efforts to expand stablecoin access across different financial and payment channels. The company has been pushing to make USDC available in various markets, including regulated financial markets, where it was recently used as margin collateral in a derivatives clearing transaction.
Brazil's digital-asset market is also developing a wider range of stablecoin products, with the introduction of BBRL, a Brazilian real-backed stablecoin. However, Coinbase's new BRL-USDC market provides users with direct access to dollar-linked liquidity rather than introducing another local-currency stablecoin.