“Can a Brazilian core-banking vendor become the global real-time ledger layer that lets legacy banks support instant payments and stablecoins without replacing their core?”
Matera (originally Software Design, 1987) is a Brazilian core banking technology vendor that evolved from Oracle-based banking modules in the 1990s into the infrastructure layer behind Brazil's instant payments revolution — PIX, SPB and now FedNow/RTP in the U.S. Its 'Digital Twin' real-time ledger sits alongside legacy cores to enable 24x7 money movement without core replacement. In 2025 it pivoted strategically into stablecoin enablement via a Circle partnership, positioning itself as the bridge between traditional banks and USDC.
Matera discloses Matera Core Banking (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Matera does not disclose a bank charter of its own; its banking services are provided through Matera Core Banking (in-house).
Matera processes payments through Matera QR Code Payments (self-operated), PIX (self-operated) and FedNow/RTP enablement (self-operated). Disclosed money-movement rails: ACH, RTP, FedNow and Push-to-card.
Matera's lending and capital products are provided by Matera Crédito (in-house).
Matera runs its ledger on Matera Digital Twin (in-house).
Matera uses Circle (USDC) for FX and cross-border payouts.
Matera's crypto products run on Circle.
The Embedded Finance Index 2026 maps 7 layers in Matera's stack: Payments / PSP (Matera QR Code Payments (self-operated), PIX (self-operated) and FedNow/RTP enablement (self-operated)); Money movement (ACH, RTP, FedNow and Push-to-card); Banking / BaaS (Matera Core Banking (in-house)); Ledger (Matera Digital Twin (in-house)); Lending (Matera Crédito (in-house), Matera Crédito, Consignado Público/Privado, Crédito do Trabalhador and 6 others); FX & payouts (Circle (USDC)); Crypto (Circle).
Matera was founded by Carlos Netto and Carlos André and is founded in 1987, headquartered in São Paulo, Brazil.
Get a read on where your own stack stands against Matera and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.