Matera
“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?”
Founded1987
HQSão Paulo, Brazil
FoundersCarlos Netto, Carlos André
IndustryInfrastructure / Core Banking
The story
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.
Product timeline
1987
Carlos Netto and Carlos André launch Software Design in São Paulo, Brazil· founding
1990
Launched Matera Bank suite — Oracle-based core banking modules· banking
2001
Launched solution for Brazil's real-time payment system SPB· payments
2004
Renamed from Software Design to Matera Systems· pivot
2007
Launched web-based version of Matera Bank core banking solution· banking
2013
Became foundation for Brazilian fintech revolution as new payment regulation enabled fintech payment accounts· banking
2025
Partnered with Circle to bring USDC stablecoin support to Brazilian banks via Digital Twin ledger· stablecoin
The stack
7 layers disclosed in Matera’s embedded-finance stack
Payments / PSP
Money movement
in the full report
Banking / BaaS
in the full report
Ledger
in the full report
Lending
in the full report
FX & payouts
in the full report
Crypto
in the full report
Accounting gap: none
18 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.