Conduit and Braza Group launch stablecoin cross-border foreign exchange service in Brazil

according to CoinDesk, the stablecoin cross-border payment service provider Conduit announced on Thursday that it has partnered with Brazil's Braza Group to enable real-time foreign exchange between the Brazilian real and major foreign currencies through stablecoins.

This service allows users to exchange Brazilian reais for US dollars or euros, with settlements completed in a matter of minutes, significantly better than the traditional foreign exchange systems that typically require up to three days for settlement.