Circle Expands Circle Mint with Local Currency On/Offramps in Eight Currencies

Circle Internet Financial has expanded its Circle Mint platform to support direct local currency on and offramps in eight currencies, including USD and EUR. This means that eligible Mint account holders can now mint and redeem USDC directly against the Brazilian real (BRL), British pound (GBP), Hong Kong dollar (HKD), Mexican peso (MXN), Offshore Chinese yuan (CNH), Singapore dollar (SGD), and other supported currencies.

Traditionally, businesses would need to convert local currency to USD through a third party, wait for the trade to settle, and then wire the dollars to Mint before minting USDC. This new feature eliminates the need for an extra foreign exchange leg or prefunding additional accounts, streamlining the process for businesses operating across multiple currencies.

The transaction flow is straightforward: activate cross-currency exchange on your Mint account, link a bank account for the local currency side, and register that account for the currency you plan to trade. After that, every transaction is a quote, a trade, and a settlement, with USDC landing in your Mint balance ready to move on-chain.