Crypto Imports in Brazil increased by 60%

In September, Brazil saw a surge in crypto imports by 60.7%. According to the central bank, the total net imports of digital assets last month exceeded the total imports in 2023.

Brazil’s crypto market has reached the 10th largest in the world as per Chainanylasis data. This could be the outcome of the increase in the stablecoin usage around the country. About 70% of the country’s transactions were done through US dollar-pegged stablecoin.