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MyBambu Crypto Wallet
Circle vs Kira - Comprehensive Provider Comparison
Circle CPN
Kira Infrastructure

Executive Summary: Circle vs Kira

Circle

Leading global stablecoin infrastructure - using Solution 2 (CPN) for streamlined USDC settlements via BFI partners

  • Core Strength: Direct USDC issuer with deep liquidity
  • Best For: High-volume cross-border payments
  • Platform Fee: $0/month (pay per transaction)
  • Mexico Pricing: Consumer: 10 bps + $0.23 | Business: 15 bps + 3 MXN
  • Settlement: Instant via CPN to BFI partner's SPEI network
  • Coverage: 15+ countries via CPN including Mexico, Brazil, Colombia
  • Integration: Mint API + Circle Wallet + CPN (Solution 2)
  • Advantage: No separate FX partner needed with CPN flow
  • Limitation: Requires BFI partnership for local payouts
Kira

All-in-one fintech infrastructure with embedded AI agents and stablecoin services

  • Core Strength: End-to-end solution with FX included
  • Best For: Startups seeking turnkey infrastructure
  • Platform Fee: $29,995/month (Enterprise tier)
  • Mexico Pricing: 13-15 bps (all-in)
  • Settlement: Real-time USDT/USDC support
  • Coverage: 15+ LATAM corridors plus global
  • Integration: Single API with bundled services
  • Limitation: High monthly minimum for early stage
  • Limitation: Less established than Circle
Winner: Low Volume
Circle
No platform fee, pay only for transactions
Winner: High Volume
Circle
Lower per-transaction fees at scale
Winner: Simplicity
Kira
Single integration, all-in-one platform
Winner: LATAM Focus
Circle
Better rates for Mexico, Brazil, Colombia

Detailed Pricing Comparison

LATAM Key Corridors

Corridor Circle Pricing Kira Pricing (Growth) Volume to Break Even Winner
USD → MXN (Consumer) - CPN 10 bps + $0.23* 13 bps $100-200 avg txn Circle (at typical volumes)
USD → MXN (Business) - CPN 15 bps + 3 MXN (~$0.17) 15 bps $1,000+ avg txn Kira (at high volumes)
USD → Brazil (PIX) 50 bps + 0.5 BRL (incl tax) N/A - Circle (only option)
USD → Colombia (PSE) 85 bps + 900 COP (incl tax) 40-70 bps Depends on volume Kira (lower rates)
USD → Argentina (COELSA) 90 bps (incl tax) 1.15-1.35% All volumes Circle
USDC On-Ramp (Buy) Varies by partner 15-20 bps - Kira (integrated)
USDC Off-Ramp (Sell) Varies by partner 13-25 bps - Kira (integrated)

Platform & Service Fees

Fee Type Circle Kira (Starter) Kira (Growth) Kira (Enterprise)
Monthly Platform Fee $0 $0 $9,995 $29,995
KYC Per User Varies by partner $4 $4 $4
Virtual USD Account N/A (requires partner) 0.20% + $4/mo 0.12% + $4/mo 0.08% + $4/mo
Support SLA Enterprise only 1 business day 1-2 hours 24/7 dedicated
Uptime Guarantee 99.9%+ Best effort 99.9% 99.9%

Pricing Notes

  • Circle CPN: No platform fee, streamlined flow through Circle Payment Network to BFI partner (Solution 2)
  • Consumer Fee Waiver: $0.23 fixed fee waived for transactions over $2,500
  • Kira: Enterprise tier ($29,995/month) includes lower transaction rates but high fixed costs
  • Break-Even: For MyBambu's expected volume ($3-5M/month), Circle CPN is significantly more cost-effective
  • Volume Discounts: Circle offers lower rates at $10M+, $25M+, $40M+ monthly tiers
  • Integration: Solution 2 (CPN) eliminates need for separate FX partner

Features & Capabilities Comparison

Feature Circle Kira Winner
Stablecoins Supported USDC (native issuer) USDT, USDC, PYUSD Kira (more options)
Settlement Speed Real-time via CPN
T+1 for non-CPN		 Real-time on blockchain Tie (both real-time)
LATAM Coverage Mexico, Brazil, Colombia, Argentina, Chile, Peru, El Salvador, +8 more Mexico, Colombia, Argentina, Chile, Peru, Costa Rica, +9 more Circle (Brazil PIX)
Embedded Banking No (requires partners) Yes (FBO accounts) Kira
FX Services Requires 3rd party Built-in Kira
KYC/AML Customer's responsibility Built-in ($4/user) Kira (turnkey)
API Complexity Multiple APIs (Mint, Redeem, CPN) Single unified API Kira (simpler)
Liquidity Unlimited (USDC issuer) Depends on partnerships Circle
Regulatory Compliance US Money Transmitter License, regulated globally Partner with licensed entities Circle (stronger)
Track Record 10+ years, $150B+ USDC in circulation New entrant (2024) Circle
AI Agents No Yes (vertical AI for operations) Kira (unique)
White Label Options Limited Full white label Kira

Integration Flows

Circle CPN Flow (Solution 2)

Sender → MyBambu Fiat US → Mint USDC → Circle Wallet → CPN Network → BFI Partner → Receiver MXN via SPEI

Steps: 5 | Partners: 2 (Circle + BFI) | Time: Instant SPEI payout
✓ Recommended approach - streamlined, no separate FX partner needed
Kira Flow

Sender → MyBambu Fiat US → Kira API → Auto FX → Receiver MXN

Steps: 4 | Partners: 1 | Time: Real-time

LATAM Corridor Analysis

🇲🇽 Mexico (SPEI via CPN)
Circle CPN Pricing:
Consumer: 10 bps + $0.23
Business: 15 bps + 3 MXN (~$0.17)
Limits: $1.5M USD
Speed: Instant SPEI
Availability: 24/7
Note: $0.23 waived if txn > $2,500
✓ Solution 2 (CPN): Streamlined flow through BFI partner, no separate FX partner needed
🇧🇷 Brazil (PIX)
Circle: 50 bps + 0.5 BRL
Limits: $1.5M USD
Speed: Instant PIX
Availability: 24/7
Note: Inclusive of tax, volume discounts available
✓ Circle Only: Kira doesn't support PIX. Circle required for Brazil expansion.
🇨🇴 Colombia (PSE)
Circle: 85 bps + 900 COP
Limits: ACH 2.3M USD daily, Nequi 23K USD
Speed: T+0 before 1PM, T+1 after
Availability: 24/7
Note: Inclusive of tax
↔ Competitive: Kira may offer better rates at high volume
🇦🇷 Argentina (COELSA)
Circle: 90 bps
Limits: $1.5M USD
Speed: Instant
Availability: 24/7
Note: Inclusive of tax, volume discounts available
✓ Circle Wins: Lower fees than Kira (1.15-1.35%)
🇨🇱 Chile
Circle: 25-35 bps
Speed: T+1
Availability: Business days
→ Standard: Both providers competitive
🇵🇪 Peru
Circle: 60-70 bps
Speed: T+1
Availability: Business days
→ Standard: Both providers competitive

LATAM Market Considerations

  • Mexico Priority: 90%+ of MyBambu remittance volume - Circle's 10-15bps is industry-leading
  • Brazil Expansion: If planning PIX support, Circle is required (Kira doesn't support PIX)
  • Instant Settlement: Mexico SPEI and Brazil PIX both support 24/7 instant settlement
  • Regulatory: Circle has stronger regulatory standing in LATAM markets
  • Volume Pricing: Circle offers volume discounts at $10M+, $25M+, $40M+ monthly tiers

Total Cost of Operations Analysis

Circle Year 1 Cost
$0
No platform fee, transaction-based only
Kira Year 1 Cost
$0
Platform + transaction + virtual accounts
Cost Difference
$0
Circle advantage in Year 1
Break-Even Volume
Never
Circle cheaper at all volume levels

Cost Breakdown by Volume Scenario

Scenario Monthly Volume Circle Total Cost Kira Total Cost Cost Difference Winner
Pilot ($500K/mo avg) $6M annual $7,500 $383,328 -$375,828 Circle (98% cheaper)
Base Case ($3.9M/mo avg) $46.5M annual $58,125 $411,616 -$353,491 Circle (86% cheaper)
Growth ($5M/mo) $60M annual $75,000 $429,000 -$354,000 Circle (83% cheaper)
Scale ($10M/mo) $120M annual $150,000 $489,000 -$339,000 Circle (69% cheaper)
Enterprise ($20M/mo) $240M annual $300,000 $609,000 -$309,000 Circle (51% cheaper)

Cost Analysis Assumptions

  • Circle CPN Pricing: Consumer: 10 bps + $0.23 | Business: 15 bps + 3 MXN (~$0.17) - using Solution 2 (CPN flow)
  • Kira Enterprise Pricing: 14 bps average + $29,995/month platform fee (Enterprise tier) + $4/month per virtual account
  • KYC Costs: MyBambu handles KYC internally - not included in provider costs for either Circle or Kira
  • Virtual Account Adoption: Assumed 30% of crypto users will want virtual USD accounts ($4/month each)
  • User Growth: Starting with 1,000 users, growing 15% monthly (reaching 5,350 by Month 12)
  • Solution 2 (CPN): Circle Payment Network - BFI partner handles local payout, NO separate FX partner needed
  • Kira Platform Fee: Even when consumed through transactions, virtual account fees are additional
  • Break-Even: Circle remains cheaper at ALL volume levels tested (even without KYC costs)
  • MyBambu Volume: Currently ~$2-3M/month projected for crypto wallet feature

⚠️ Important Considerations

  • Integration Time: Circle CPN integration requires Mint API + Circle Wallet setup, estimated 6-8 weeks
  • Maintenance: Circle CPN requires managing BFI partner relationship (simpler than Solution 1)
  • Support: Kira includes 24/7 support at Enterprise tier; Circle support varies by relationship
  • Flexibility: Circle allows starting with zero commitment; Kira Enterprise requires $29,995/month minimum
  • Risk: Circle is battle-tested with 10+ years; Kira is new (launched 2024)

Final Recommendation

🏆 Recommended Provider: Circle

Based on MyBambu's current volume projections ($2-3M monthly crypto wallet transactions), Circle is the overwhelming winner and offers the best value proposition for launching and scaling crypto wallet services. Even with Kira's Enterprise tier (lower transaction fees), Circle remains 86% cheaper in Year 1 (~$353K savings).

Why Circle Wins for MyBambu

✓ Cost Advantage

  • • $0 platform fee - no monthly minimum to maintain
  • • 86% cheaper at projected $3.9M/month average volume
  • • No per-user fees - no virtual account charges
  • • Pay-as-you-grow model perfect for startup phase
  • • Mexico: 10-15 bps vs Kira's 13-15 bps + fees
  • • Save ~$353K in Year 1 vs Kira Enterprise (all fees included)

✓ Market Leadership

  • • 10+ years operating stablecoin infrastructure
  • • $150B+ USDC in circulation (issuer)
  • • Regulated as US Money Transmitter
  • • Brazil PIX support - critical for LATAM expansion
  • • Unlimited liquidity as USDC issuer

✓ LATAM Focus

  • • Best Mexico rates (90% of remittance volume)
  • • Direct SPEI integration for instant settlement
  • • PIX for Brazil expansion (Kira doesn't support)
  • • 15+ LATAM corridors with instant settlement
  • • 24/7 availability for key markets

✓ Flexibility

  • • No commitment - can start/stop anytime
  • • Scale as you grow - costs scale linearly
  • • Multiple integration options (Mint, CPN, Wallets)
  • • Choose your partners for FX and banking
  • • Future-proof as USDC adoption grows

When to Reconsider Kira

Kira Makes Sense If:

  • Volume exceeds $40M/month - Even then, Circle likely still cheaper due to $30K monthly platform fee
  • Need turnkey solution and willing to pay 2-3x premium for simplicity
  • Want single vendor for all fintech infrastructure (FX, KYC, banking, crypto)
  • Don't need virtual USD accounts - Eliminates $4/month per-user recurring cost
  • AI agents are valuable for operations automation and worth the premium
  • Prefer newer tech stack over established infrastructure despite higher costs

Implementation Roadmap

Phase Timeline Action Items Cost Impact
Phase 1: Pilot Months 1-3 • Circle account setup & API integration
• Mexico SPEI corridor only
• 500 test users
• Monitor transaction costs 		~$2K-5K total
Phase 2: Launch Months 4-6 • Full US → Mexico launch
• Scale to 5,000 users
• Add Colombia corridor
• Implement CPN if available 		~$15K-25K total
Phase 3: Expand Months 7-12 • Add Brazil (PIX)
• Add Argentina corridor
• Scale to 20,000+ users
• Negotiate volume pricing 		~$50K-100K total
Phase 4: Optimize Year 2 • Re-evaluate Kira if >$10M/month
• Negotiate Circle enterprise pricing
• Consider multi-provider strategy
• Expand to EU/Asia 		Optimize based on volume

💡 Final Verdict

Start with Circle for crypto wallet launch. The cost savings ($350K+ in Year 1), proven infrastructure, superior LATAM rates, and zero-commitment model make it the obvious choice. Re-evaluate Kira when monthly volume exceeds $40M or if turnkey simplicity becomes more valuable than cost savings.

Recommended Action: Proceed with Circle integration immediately. Set up pilot in Mexico corridor to validate pricing and performance. Keep Kira as backup option for Phase 4 optimization.