Stablecoins in Brazil: 80% of the Cryptocurrency Market

Stablecoins have consolidated their position as the main digital asset used in Brazil. Indeed, data released by the Federal Revenue in July reveals that these stable-value cryptocurrencies now represent approximately 80% of the total volume of declared crypto assets in the country, confirming a significant transformation in the Brazilian market. In this sense, the survey, based on official declarations of operations with crypto assets, highlights the accelerated growth in the adoption of these digital currencies.

The Rise of Stablecoins in Brazil

According to official data, between August 2019 and December 2025, R$ 1.58 trillion in operations with major crypto assets were declared. These crypto assets were traded in Brazil. Of this amount, R$ 1.13 trillion corresponded exclusively to stablecoins. This means that it accounts for 71.7% of the entire market during this period. In 2019, these assets represented only 3.5% of the traded volume. However, in 2023, they peaked at 91.5% of the monthly movement. Subsequently, in the following years, they stabilized their share between 76% and 80%, maintaining a broad leadership among digital assets.

The advancement is also observed in the intensity of operations. Indeed, between 2019 and 2025, 185.7 million transactions involving stablecoins and other crypto assets were recorded. The highest number of operations occurred in November 2024, when 18.2 million movements were declared. Additionally, the financial record was registered in November 2025, with R$ 39.7 billion moved in just one month. Therefore, this evidences the maturation of the Brazilian digital asset market.

Leadership and Market Concentration

The leadership of the segment is mainly concentrated in USDT (Tether). Indeed, it is responsible for 88.7% of the total financial volume moved in stablecoins in the country. Next, USDC appears with a share of 7.1%. BRZ, a stablecoin pegged to the real, has 3.4%. Therefore, in practice, almost nine out of ten reais moved in stablecoins in Brazil use USDT. USDT is the main settlement instrument.

The growth is also corroborated by a survey from Chainalysis. Indeed, it identified an expansion of over 200% in transactions with stablecoins conducted in Brazil between mid-2023 and mid-2024. Thus, the performance places the country among the most relevant markets in the world for using these assets for payments, international remittances, and foreign trade. Additionally, it is also for financial movements based on blockchain technology.

Key Factors for Popularization

For Cleverson Pereira, educational head of OnilX, price stability is one of the main factors. These are responsible for the popularization of stablecoins. This occurs because these assets are mostly backed by fiat currencies such as the US dollar or the real. They offer lower exposure to the typical volatility of cryptocurrencies. This includes Bitcoin and Ethereum. Furthermore, they provide virtually immediate settlement, uninterrupted operation of blockchain networks, and reduced costs in international transfers. Finally, they also offer greater financial predictability and ease for global operations.

"The growth of stablecoins demonstrates that the Brazilian market is migrating towards solutions that combine security, predictability, and operational efficiency. These assets have ceased to be merely investment instruments to assume a relevant role in international payments, foreign trade, and the digital transformation of finance. As regulation evolves, Brazil is likely to further consolidate its position among the leading global markets for digital assets," he states.

Regulation and Future Perspectives

Moreover, another decisive factor for the expansion of this market is its ability to integrate with the traditional financial system. This integration occurs alongside the digital economy. Companies use stablecoins for international payments, contract settlements, and foreign trade. On the other hand, consumers find in these assets a more efficient alternative for sending resources abroad, making international purchases, and accessing digital financial services with lower operational costs.

The accelerated growth has also driven significant changes in Brazilian regulation. For example, the Federal Revenue Service has begun to adopt DeCripto, aligned with the international standard set by the Organization for Economic Cooperation and Development (OECD). This has increased the transparency and reporting requirements for operations involving crypto assets. Additionally, service providers, including foreign companies operating in Brazil, have begun to comply with new tax obligations. Meanwhile, the Central Bank and the Federal Revenue Service are intensifying studies on the regulatory evolution of this market.

Continuous Adoption and Future Outlook

In this sense, according to Cleverson Pereira, the trend is that adoption will continue to advance in the coming years. This will be driven by the digitalization of financial services, the pursuit of greater efficiency in international operations, and the maturation of the regulatory environment. Therefore, the expectation is that companies, financial institutions, and consumers will gradually increase the use of stablecoins in applications. These applications range from payments and remittances to asset tokenization and integration with blockchain-based solutions.

"Stablecoins have ceased to be a restricted alternative to the crypto asset market and have begun to occupy a strategic space in the digital economy. As regulation advances and the market matures, the trend is for these assets to be increasingly incorporated into the daily operations of companies and consumers, driving innovation, efficiency, and competitiveness in the financial system," he concludes.

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