dLocal joins Circle Payments Network to power stablecoin payouts across emerging markets
Circle’s global payments network connects with dLocal’s rails to deliver fast, compliant cross-border payouts in local currencies
Montevideo, Uruguay, November 18, 2025 – dLocal, (NASDAQ: DLO) a leading cross-border payment platform connecting global merchants to emerging markets, has integrated with Circle Payments Network (CPN), operated by Circle Technology Services, LLC, an affiliate of Circle Internet Group, Inc. (NYSE: CRCL), to enable seamless payouts across emerging markets. Powered by Circle’s payment stablecoins, USDC and EURC, CPN connects financial institutions to enable real-time settlement of cross-border payments. With dLocal’s deep local infrastructure integrated, CPN participants can seamlessly disburse funds in local currencies across key emerging markets.
Despite advancements in fintech, cross-border payments remain costly and slow, burdening businesses in emerging markets. The World Bank reports a 6.4% average cost to send $200, over twice the UN’s 3% target.
dLocal’s CPN integration streamlines fund flows and enables remittances and disbursements in emerging markets. dLocal’s expertise and extensive regional payment capabilities provide CPN participants with reduced costs and a reliable user experience for recipients across emerging markets.
“A key driver in the development of Circle Payments Network was creating a new layer for payments to reach emerging markets in a fast and cost-effective way,” said Kash Razzaghi, Chief Business Officer at Circle. “dLocal’s payout offerings throughout emerging markets are crucial to delivering on this promise and creating a more open, digital financial system.”
“This alliance marks a milestone in connecting global stablecoin liquidity with local payment ecosystems,” said John O’Brien, Chief Revenue Officer at dLocal. “By leveraging dLocal’s extensive presence across emerging markets, it enables financial institutions and fintechs to operate more efficiently, reduce costs, and deliver a better experience for businesses sending funds in these high-growth economies.”
About dLocal
dLocal powers local payments in emerging markets, connecting global enterprise merchants with billions of emerging market consumers across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send payouts, and settle funds globally—without the need to manage separate processors or set up local entities. For more information, visit https://www.dlocal.com.
About Circle Payments Network
Circle Technology Services, LLC (CTS) is the operator of Circle Payments Network (CPN) and offers products and services to financial institutions that participate in CPN to facilitate their CPN access and integration. CPN connects participating financial institutions around the world, with CTS serving as the technology service provider to participating financial institutions. While CTS does not hold funds or manage accounts on behalf of customers, we enable the global ecosystem of participating financial institutions to connect directly with each other, communicate securely, and settle directly with each other. CTS is not a party to transactions between participating financial institutions facilitated by CPN who use CPN to execute transactions at their own risk. Use of CPN is subject to the CPN Rules and the CPN Participation Agreement between CTS and a participating financial institution.
