Hong Kong, June 2, 2025 — RedotPay, a global payment service provider specializing in crypto payments, has announced a strategic collaboration with Circle to leverage the Circle Payments Network (CPN) for seamless money transfers to Brazil. This integration allows RedotPay's 4 million+ users to send cryptocurrency directly to Brazilian bank accounts, with automatic conversion to Brazilian Real (BRL) upon arrival.
Key Features of the Partnership
- Instant Settlement: Eliminates traditional 1–5 day waiting periods for international transfers
- Zero Fees: Subsidized transaction costs during the initial launch phase
- Automated Conversion: Cryptocurrencies auto-convert to BRL at recipient banks
- Enhanced Accessibility: Available via RedotPay's iOS/Android apps
Solving Cross-Border Payment Challenges
Michael Gao, CEO and Co-Founder of RedotPay, explains:
"Our integration with CPN addresses two historic pain points: slow settlement times and excessive fees. By introducing stablecoin-based solutions, we're enabling families and businesses to participate in the global economy without traditional banking barriers."
Sunil Sharma, VP of Product at Circle, adds:
"CPN serves as foundational infrastructure for the always-on economy, modernizing financial systems while empowering emerging markets. RedotPay users now gain access to frictionless global payments."
Technical Implementation
- First Phase: "Send Crypto, Receive BRL" functionality live in Brazil
- Future Expansion: Planned rollout to additional regions following Brazil's launch
- Infrastructure: CPN connects financial institutions worldwide for real-time multi-market settlements
Market Context
This partnership follows RedotPay's successful $40 million Series A funding round to accelerate crypto payment solutions globally. The company focuses on:
- Blockchain integration with traditional finance systems
- Financial inclusion for underbanked populations
- User-friendly crypto spending tools
Frequently Asked Questions
Q: How does the conversion rate work for BRL?
A: Rates are determined at transaction time using CPN's real-time forex algorithms.
Q: Are there daily transfer limits?
A: Limits vary based on account verification level and local regulations.
Q: Which cryptocurrencies are supported?
A: Initially USDC and major stablecoins, with expansion planned.
👉 Discover how crypto payments are revolutionizing global finance
Q: When will this service expand beyond Brazil?
A: RedotPay plans phased regional expansions throughout 2025–2026.
Q: How does this differ from traditional remittance services?
A: Faster settlement (minutes vs. days) and significantly lower fees (often 70–90% cheaper).
Q: Is KYC required?
A: Yes, standard identity verification applies per anti-money laundering regulations.
About Circle Payments Network
Operated by Circle Technology Services (CTS), CPN provides:
- Direct connectivity between participating financial institutions
- Secure communication protocols
- Settlement infrastructure for global transactions
👉 Learn about next-gen payment networks
Note: CTS doesn't hold customer funds but enables institutional settlement.
Media Contact: [email protected]
Disclaimer: This content is for informational purposes only and doesn't constitute financial advice. Features and availability may vary by jurisdiction.
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