"Stablecoins have risen as an effective way of expediting B2B settlements. The market today is super healthy. Companies like ours operate mainly in B2B. We serve banks, brokerages, and other companies that want to exchange currency for stablecoins."
"Stablecoins, which have reached trading volumes of over 29.4 billion reais (nearly $6 billion) during December, have an advantage over standard fiat transactions. While the latter have to pay a financial transaction tax, stablecoins can be transacted freely."
"Most international travel agencies in Brazil now leverage stablecoins. Also, the executive mentioned foreign settlements with Bolivia as another use case for stablecoins. There are no dollars in Bolivia. Stablecoins have become the solution."
Stablecoin usage in Brazil is expanding beyond the cryptocurrency sector, with companies leveraging tax-free transactions for B2B settlements. Stablecoins have reached trading volumes exceeding 29.4 billion reais, providing a significant advantage over fiat transactions, which incur taxes. Carlos Russo, CEO of Bloquo, noted that stablecoins are increasingly used by international travel agencies and for foreign settlements, particularly with Bolivia. The Brazilian government had considered taxing stablecoins but delayed the implementation, which may influence future crypto market adoption amid rising inflation concerns.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]