Crypto payments firm RedotPay has officially partnered with Circle to enable instant crypto-to-fiat transfers into Brazil.
By integrating with the Circle Payments Network (CPN), RedotPay users can now send cryptocurrency that is automatically converted into Brazilian Real (BRL) and deposited into local bank accounts, without the usual delays or high fees associated with traditional cross-border payments.
A New Option for Fast, Affordable Remittances
The newly launched service, called “Send Crypto, Receive BRL,” allows RedotPay users to move funds across borders in near real-time. During the initial launch phase, the company is waiving all transaction fees, making the service even more accessible. The move is expected to benefit both individuals and businesses looking for a quicker and cheaper alternative to conventional money transfers.
Michael Gao, CEO and Co-Founder of RedotPay, emphasized the need for a modern solution to cross-border payment inefficiencies, particularly in developing countries. Gao pointed out that international transfers have traditionally suffered from slow speeds, poor exchange rates, and high fees. For service providers, maintaining prefunded accounts in multiple countries has also created logistical and financial challenges.
“With this new stablecoin-based system, we’re eliminating many of the common obstacles people face when sending money abroad,” Gao said. “Our goal is to make crypto payments practical and accessible for everyone—especially in regions that the traditional financial system has underserved.”
Sunil Sharma, Vice President of Product at Circle, echoed this mission. He explained that the Circle Payments Network was built to address the fragmentation in the current global payment infrastructure. According to Sharma, families that rely on international remittances often lose a significant portion of their funds to processing fees. The CPN allows financial institutions to settle transactions globally and instantly, supporting a 24/7 digital economy.
“RedotPay users can now enjoy a smoother, more cost-effective way to send money,” Sharma noted. “This collaboration marks a step forward in making global payments simple and fair.”