Codexa integrates USDC stablecoin settlement for Brazilian trade alongside SWIFT, with stablecoins now representing 20% of $800M monthly volume.
DeFi & Yields ·
Codexa has integrated USDC settlement alongside SWIFT infrastructure for Brazilian trade flows, according to Circle. The integration marks an expansion of stablecoin use within an existing payment corridor, with dollar-backed tokens now accounting for 20% of the platform's $800 million in monthly transaction volume.
The move reflects a broader pattern of hybrid payment systems that layer blockchain-based settlement options onto traditional banking rails. SWIFT messaging remains the dominant channel for cross-border instructions, while stablecoins like USDC enable faster final settlement and reduce friction for certain transaction types. This architecture allows institutions to operate within both systems simultaneously rather than choosing between them.
The extent to which stablecoin settlement will displace SWIFT-based flows in Brazilian trade remains uncertain. The 20% adoption figure suggests parallel adoption rather than replacement, and regulatory constraints, currency controls, or correspondent banking preferences may limit further stablecoin penetration in this specific corridor.