The Parfin Platform was chosen to support Bradesco’s clients in this rapidly expanding market. Driven by global economic transformations and a growing demand for cost-effective and efficient payment solutions, stablecoins have emerged as a game-changer for international trade transactions compared to traditional methods.   

This initiative positions Brazil as a leader in Latin America for blockchain technology adoption. By implementing this solution, the financial sector accelerates its digital transformation while showcasing how blockchain can be strategically applied in real-world use cases by financial institutions. It offers a more efficient, secure, and accessible alternative for international transfers, paving the way for a more connected financial future.   

Operations begin in January  

The pilot project will leverage Parfin’s expertise in the crypto-assets sector, including:   

• Digital Asset Platform: Comprehensive infrastructure for the entire transaction lifecycle.   

• BPO Services: Specialized operational processing for stablecoin transactions, including liquidity management, settlement, compliance, and regulatory support.   

• Flow Desk for Stablecoin Liquidity: Efficient access to liquidity with competitive pricing.   

Stablecoins as a competitive advantage 

Parfin’s expertise in this segment supports financial institutions by providing the necessary technological infrastructure, operational support, and liquidity for stablecoin transactions.   

With approximately $40 trillion in annual B2B cross-border payments conducted via SWIFT or other traditional methods (excluding wholesale transactions), the market potential is vast. A Bitso and PCMI report projects that this market could exceed $292 trillion by 2030. Stablecoins are uniquely positioned to meet the growing demand for efficient trade operations.   

The Bradesco pilot project, supported by Parfin, aims to validate how stablecoins can revolutionize cross-border payments and remittances. The initiative seeks to deliver faster, more cost-effective, and efficient solutions compared to traditional methods like SWIFT.   

Through the partnership, exporters can settle transactions using US dollar-pegged stablecoins, benefiting from lower costs and enhanced operational agility. For example, sending $200 from the U.S. to Colombia via traditional channels costs US$ 12.13, while the same transaction using stablecoins costs less than US$ 0.01.   

Where SWIFT payments can take days or even weeks to complete, stablecoin transactions settle securely and privately within minutes.   

The world is tuned in Digital Currencies   

The pursuit of technologies and access to blockchain-based payment systems aligns with a global movement to modernize economic systems. The International Monetary Fund (IMF) recently noted that digital currencies could replace traditional money and promote financial inclusion due to their security and low cost. In 2020, stablecoins accounted for just 3% of blockchain transactions worldwide; today, they exceed 50%, according to Pantera Capital.   

Moreover, the demand for asset management and compliance programs to regulate cryptocurrency use, including stablecoins, is rising. In November, Brazil’s Central Bank launched its second public consultation on cryptocurrency regulation, which will integrate these assets into the foreign exchange market.   

A new frontier for business across borders   

How does the Parfin Platform support Bradesco?   

Cross-border payments often involve multiple steps to ensure security and compliance. With stablecoins, this process becomes much faster:   

1. A Brazilian exporter sells goods abroad and awaits payment from the importer.   

2. The importer pays the exporter using stablecoins, settling the transaction on the Parfin Platform.   

3. Parfin notifies Bradesco, which executes a currency exchange for the Brazilian exporter, converting the received stablecoins into Brazilian reais and depositing the funds into the exporter’s bank account.   

This process ensures that only Bradesco’s clients (the exporters) and their suppliers view the negotiated amounts. Transactions, including the local currency conversion, are completed in seconds.   

Key benefits of the partnership   

• Lower Costs for Clients: Traditional international transactions often involve high fees, while stablecoin fees are typically less than a cent—far more economical than services charging 2.9% + $0.30 per transaction.   

• Faster Transfers: Traditional transfers can take days to settle; with stablecoins, it’s instant.   

• Reduced Bureaucracy: Currency exchange and remittance processes are simplified using blockchain technology.   

• Accessibility and Availability: Financial services become more accessible, especially in emerging markets, with operations available 24/7, 365 days a year.   

“The combined expertise of Bradesco in foreign exchange transactions and Parfin in stablecoin technology creates a groundbreaking solution for processing cross-border payments in international trade. This partnership aims to harness the transformative potential of stablecoins, offering a more efficient, economical, and accessible alternative. It fosters new business opportunities while ensuring clients benefit from competitive pricing and secure, fast transactions” 

Marcos Viriato, CEO and Co-Founder of Parfin

As stablecoin adoption advances in Brazil and regulatory frameworks evolve, access to new financial services will continue to expand. With major players like Bradesco entering the market, opportunities abound for new protocols and businesses to tap into the growing blockchain ecosystem.   

This means that for customers, the promise is secure and agile digital financial transactions. For organizations and financial institutions, the potential lies in scalability, new partnerships, portfolio growth, and innovative projects that fully leverage blockchain technology’s potential.