USDC

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<ul class="news-points"> 
 <li>Brazilian regulators noted that USDT use has gained traction in recent years.</li> 
 <li>The regulators estimated USDT’s trade volume to be over $54 billion in mid-October.</li> 
 <li>The stablecoin accounted for 80% of all cryptocurrency transactions in the country since the start of 2023.</li> 
</ul> 
In a recent report, regulators in Brazil have noted the rapid rise in USDT’s trading volume in the country. According to Brazil’s Federal Reserve, monthly surveys conducted since 2019 indicate significant growth in the use of USDT and other <a href="https://coinedition.com/stablecoins-market-cap-surged-last-week-shows-on-chain-data/">stablecoins</a>. 
According to the report, USDT, issued by Tether, has grown immensely in recent years. As a result, the token’s trading volume has soared and surpassed that of major cryptocurrencies. They also listed USDC and BRZ, Brazilian Digital Token, a stablecoin fully backed by the Brazilian Real, as stablecoins to have gained traction. 
Regulators in Brazil said the rise in the use of stablecoins is because of the stability and security of value they offer. Thus, users who use stablecoins do so to avoid the market volatility often associated with most cryptocurrencies. 
Furthermore, the regulators said USDT’s trading volume reached over $54.…
The post <a rel="nofollow" href="https://coinedition.com/regulators-in-brazil-keep-watch-on-usdt-as-trade-volume-soars/">Regulators in Brazil Keep Watch on USDT as Trade Volume Soars</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Regulators in Brazil Keep Watch on USDT as Trade Volume Soars

Coin Edition

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