Shares in Circle Internet Group closed with a 10.7% gain on Wednesday after the stablecoin issuer partnered with Brazilian fintech Matera to support multicurrency bank payments, while its flagship stablecoin USDC also went live on OpenAI CEO Sam Altmans World Chain.World, formerly Worldcoin, said on Wednesday that around two million of its users held bridged USDC (USDC), a type of cryptocurrency that represents value ported across from another blockchain, which is now upgraded to native USDC issued directly by Circle.Circles Cross-Chain Transfer Protocol, which allows USDC to be quickly transferred across blockchain, also went live for Worlds 27 million users, who joined the network by scanning their eyes to prove theyre humans.World said that users had been using USDC on the network for remittances and in Mini Apps, which provide tools for payments and e-commerce, among other things.
Circle and Matera link up for bank paymentsMeanwhile, Brazils Matera said on Wednesday that it partnered with Circle to allow the countrys banks to support multicurrency accounts.Matera said it will use its real-time ledger, Digital Twin, to allow financial institutions to hold Circles USDC directly and have Brazilian reals, US dollars and the stablecoin in the same environment without requiring institutions to build complex infrastructure from scratch.The solution will also connect to local payment rails, including the Central Bank of Brazils real-time payment system Pix, and would allow USDC to be used in transactions and transfers.Interoperability between stablecoins and local currency accounts is no longer a side project its now at the heart of the financial system, Matera CEO Carlos Netto said.
This is a game-changer for banks and fintechs looking to operate globally with near-instant settlement and low costs.Circle shares jump over 10%Shares in Circle (CRCL) closed trading on Wednesday up nearly 10.7% on news of the two deals, falling after-hours by 0.2% to just under $117, according to Yahoo Finance.Circles shares saw double-digit gains on Wednesday amid USDCs rollout on World.
Source: Yahoo FinanceThe stablecoin issuer went public in the US on June 5 in an upsized offering, and its stock price has since surged by nearly 280% since it kicked off trading at $31.World made US debut in AprilWorld was founded in 2019 by the San Francisco and Berlin-based Tools for Humanity but only launched to US users at the end of April, debuting in six cities: Atlanta, Austin, Los Angeles, Miami, Nashville and San Francisco.Related: US senators question Metas stablecoin plans amid GENIUS Act debateWorld Chain users who verify their identity via scanning their face and eyes with the companys mirrored spherical device called an Orb are given the blockchains crypto token, Worldcoin (WLD), as a reward.World had skirted launching in the US due to regulatory concerns over offering the token, which it has now seemingly put aside under the crypto-friendly Trump administration.The company has faced probes from regulators outside the US over privacy concerns, and some jurisdictions, including Spain and Portugal, had suspended Worlds activities in their countries over its data collection practices.Read more: AI Eye: AI is good for employment says PWC Ignore the AI doomers