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FollowingCoinbase launches direct trading in Brazil
Coinbase announced that Brazilian users can now buy and sell USDC directly with the Brazilian real on Coinbase Advanced. The company said in an announcement on August 19 that the change eliminates a step in the transaction process and reduces the online cost of converting Brazilian real to USDC by 85%. This update involves a direct exchange channel between the Brazilian real and USDC on Coinbase Advanced. Coinbase called the move part of its expansion into the Brazilian market and described Brazil as an important cryptocurrency market.
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Eligible users can directly trade USDC with the Brazilian real on the Advanced platform without having to go through intermediate transactions or redemption paths. The company said its design was designed to reduce the threshold and cost for users to obtain liquidity in dollar-denominated stablecoins. Coinbase claims that the cost of exchanging USDC on Coinbase Advanced through Brazilian real can be reduced by 85%. However, a unified rate schedule is not provided in the announcement, and the actual fees depend on the applicable accounts, products and trading conditions.
Stability coin background
The company linked the product change to its macro view of stablecoins as payment and settlement infrastructure. These market statements only represent Coinbase's position and are not independently verified trading results after this launch. The announcement is an update of product access rights and does not involve changes to the USDC agreement or the issuance of new stablecoins. Users should refer to Coinbase's intra-product disclosures and regional terms for availability and associated fees. The company did not announce any changes to the USDC redemption mechanism in its announcement.
