Stablecoin

Major

Read

Coin

<ul class="news-points wp-block-list">
 <li>The BRL1 stablecoin aims to enhance Brazil’s digital transactions with blockchain technology.</li>
 <li>Major exchanges unite to launch BRL1, projecting R$100 million in circulation by 2025.</li>
 <li>BRL1 will bridge traditional finance and crypto, boosting transaction efficiency and transparency.</li>
</ul>
Major Brazilian crypto exchanges <a href="https://valor.globo.com/financas/criptomoedas/noticia/2024/10/07/consorcio-lanca-cripto-de-real-para-transacoes-diretas-entre-plataformas.ghtml" target="_blank" rel="noopener noreferrer nofollow">have formed a consortium</a> to launch a new stablecoin pegged to the Brazilian real. Bitso, Mercado Bitcoin, Foxbit, and Cainvest are working together to create BRL1, which will be backed by reais and government bonds.
They plan to launch BRL1 by the end of 2024. The goal is to make transactions easier, both in Brazil and internationally, while also making the Brazilian crypto market more efficient and transparent.
<h2 class="wp-block-heading" id="h-collaboration-among-competitors">Collaboration Among Competitors</h2>
This consortium shows how competitors are working together in the Brazilian crypto space. While these exchanges usually operate independently, they know it’s important to work together to improve the national crypto ecosystem.
Read also : <a href="https://coinedition.com/rep-maxine-waters-calls-crypto-inevitable-robinhood-eyes-stablecoin/?utm_source=telegram_channel&amp;utm_medium=referral" rel="noopener noreferrer nofollow">Rep. Maxine Waters Calls Crypto ‘Inevitable,’ Robinhood Eyes Stablecoin</a>
The consortium expects BRL1 to reach a circulation of R$100 million (approximately $18 mi…
The post <a href="https://coinedition.com/brl1-stablecoin-to-launch-in-brazil-backed-by-reais-and-bonds/" rel="noopener noreferrer nofollow">BRL1 Stablecoin to Launch in Brazil, Backed by Reais and Bonds</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

BRL1 Stablecoin to Launch in Brazil, Backed by Reais and Bonds

Table of Contents

Coin Edition

Other articles published on Oct 9, 2024

Bitcoin Staking Success in Babylon Raises $1.5 Billion Swiftly

Binance's 60th Launchpool Project: What is Scroll?

Curve Finance Considers Removing TUSD from crvUSD Collateral Amid SEC Accusations

Crypto Price Today (Oct 9, 2024): Bitcoin & Ethereum Lack Momentum, XRP Gains Amid ETF News!

FTX repayments to creditors could be a liquidity catalyst for the crypto market

Coinbase Now Supports Bitcoin Transactions to Taproot Wallets

Join our free newsletter for daily crypto updates!