Research · June 2026

30 min read Last reviewed: June 9, 2026

Who uses stablecoins in Brazil

A persona map of the world's largest advanced stablecoin economy: the 7 personas that move the market, ranked by share of value and share of users.

USDT · USDC7 personas29 sourcesB2B decision-makers

$318B Crypto value received in the year to mid-2025

~90% of crypto flows are stablecoins (BCB / tax authority)

~25M users Brazilians holding crypto

#5 global ranking Chainalysis 2025 adoption

Key findings

Nine findings that change the entry strategy

Stablecoins are the market. ~90% of Brazil's crypto flows are stablecoins (BCB / federal tax authority); in H1 2025, R$227B in crypto transactions (~+20% year over year), with USDT accounting for ~two-thirds of volume and Bitcoin for just ~11%. ⁴ The popular '60%' figure measures holding, not flow.
The value/users inversion defines the strategy. By value, ~70% of activity is institutional and commercial; by users, 80%+ is individual. Product and go-to-market must be designed for one lens or the other - rarely both at once.
USDT dominates volume; USDC dominates mainstream distribution. USDT is held by ~83% of users; Binance concentrates ~76% of the market. ¹⁰¹¹ USDC is the stablecoin of choice for regulated channels - 1 in 4 new Nubank investors picks USDC. ¹²¹³
Brazil is a dollar-savings and settlement story, not a remittance one. Brazil receives only ~$4B/year in remittances (~0.18% of GDP). ¹⁸ Cross-border stablecoin value is dominated by trade and treasury. A deliberate revision of the earlier study, which elevated remittances to a front-line use case.
Institutional flows are the growth engine. Institutional transfers more than doubled year over year ¹; 71% of Latin American institutions use stablecoins for cross-border payments - the highest regional rate in the world. ¹⁷
The fastest-growing segment enters through the most conservative product. Under-24s are growing +56% year over year ⁹ - and they enter through stablecoins and tokenized fixed income, not altcoins. Middle-income users skew specifically toward digital dollars. ²⁶
Stablecoins have left the exchanges and entered the neobanks. Nubank (100M+ customers), Mercado Bitcoin, and Pix-integrated apps distribute digital dollars to ordinary consumers - the behavior has crossed into the mainstream. ¹²²²
The 2026 regulatory regime reshapes who can serve the demand. BCB Res. 519/520/521 (Feb 2026): licenses VASPs and reclassifies stablecoins as FX. Res. 561 (Oct 2026): bars stablecoins from the regulated electronic cross-border FX channel. DeCripto: aligns with the OECD CARF standard. ¹⁶²⁷⁵²⁴
Everyday spending is still a future opportunity, not a present one. 85% of users want to pay for purchases with crypto ¹⁰, but point-of-sale payment remains niche. The dominant uses are saving and moving value across borders - not buying.

The 7 personas at a glance

Who moves the market - by value and by users

Each row links to the full profile. Shares by value sum to 100%; shares by users sum to 100%. These are bitsARK estimates.

Who moves the market - by value and by users
#	Persona	Function	By value	By users
1	Institutional treasury, liquidity & OTC	Treasury & liquidity	~30%	~1%
2	Crypto-native traders & investors	Trading & investing	~22%	~15%
3	Foreign trade & supplier payments (SMEs)	Trade settlement	~18%	~4%
4	Global professionals (service exporters)	Earning abroad	~11%	~9%
5	Digital-dollar savers (retail)	Saving	~10%	~58%
6	Remittances & family transfers	Remittances	~5%	~5%
7	Digital-economy consumers	Spending	~4%	~8%

Executive summary

The inversion most analyses miss

Brazil is the world's most important stablecoin market for institutional decision-makers: ~90% of crypto flows are stablecoins (BCB / federal tax authority), $318B received in the year to mid-2025, #5 in the global adoption index. ⁴¹²⁵ The central strategic fact is an inversion: by users, the market is overwhelmingly retail - middle-class savers buying small amounts of digital dollars. By value, it is dominated by a small number of institutional actors: treasuries, professional traders, SMEs paying overseas suppliers. ¹ Build for the value-weighted market; use the retail base for distribution and brand.

The market sits at a regulatory inflection point. BCB Resolutions 519/520/521 (February 2026) license VASPs and reclassify stablecoins as foreign exchange; Resolution 561 (October 2026) bars stablecoins from the regulated electronic cross-border FX channel. ¹⁶²⁷⁵ Regulation does not reduce demand - it is structural, anchored in the volatile real and enabled by Pix - but it rewards licensed operators and punishes opportunists. The winners build for treasury and trade, using the saver base as a funnel.

Exhibit 2 · The inversion

Share by value vs. share by users

By value By users

Treasury & OTC

30%

Crypto-native traders

22%

15%

Foreign trade (SMEs)

18%

Global professionals

11%

Digital-dollar savers

10%

58%

Remittances

Digital economy

Share by value and by users, per persona
Persona	By value	By users
Institutional treasury, liquidity & OTC	30%	1%
Crypto-native traders & investors	22%	15%
Foreign trade & supplier payments (SMEs)	18%	4%
Global professionals (service exporters)	11%	9%
Digital-dollar savers (retail)	10%	58%
Remittances & family transfers	5%	5%
Digital-economy consumers	4%	8%

Teal = share by value; amber = share by users. The crossover between 'digital-dollar savers' (10% of value, 58% of users) and 'institutional treasury' (30% of value, 1% of users) is the strategic core. Source: bitsARK analysis.

Persona profiles

The seven personas in operational detail

Derived from economic function - what the user actually does with the stablecoin - not from a marketing segment. Each persona is large enough to matter, behaves differently enough to justify distinct products, and can be evidenced and sized.

Two clusters: Institutional, business, and market flows (Personas 1-3) = ≈70% of value, ~20% of users. Individual and household flows (Personas 4-7) = ≈30% of value, ~80% of users.

Transaction sizes are illustrative orders of magnitude, not medians.

Institutional / markets

Institutional treasury, liquidity & OTC

The silent majority of value.

Not a person but a class of organization: fintechs holding dollar working capital, OTC desks intermediating large orders, market makers managing inventory, and corporates using stablecoins for cross-border liquidity. It is the smallest segment by number of people and the largest by value - Chainalysis notes that institutional transfers (above $10M) more than doubled and led Brazil's growth. ¹ For this persona, stablecoins are infrastructure, not an investment.

At a glance

At a glance - Institutional treasury, liquidity & OTC
Core motivations	Dollar treasury management; fast cross-border settlement; counterparty liquidity; yield on idle balances; FX risk management
Typical age range	n/a (institutions); decision-makers aged 30-55 (CFOs, controllers, treasurers, desk heads)
Income / size	From funded startups to large corporates and financial institutions; balances from low six figures to tens of millions of USD
Financial sophistication	Very high
Stablecoins used	USDC and USDT; preference for audited, fully backed issuers post-regulation
Typical transaction size	$100K - $10M+ per transaction
Main platforms	OTC desks, institutional custodians, Fireblocks-type infrastructure, licensed VASPs, banks' digital-asset units
Main pain points	Regulatory and compliance burden; banking relationships; accounting and audit treatment; the electronic-FX restriction; counterparty and custody risk
Adoption drivers	Speed and cost vs. correspondent banking; 24/7 settlement; dollar access; institutional-grade custody and licensing
Estimated share	~30% by value (28-35%, medium confidence); ~1% by users

Institutional / markets

Crypto-native traders & investors

The cash leg of everything.

Active traders, DeFi participants, and semi-professional arbitrageurs who use stablecoins as 'dry powder' between positions - the unit in which P&L is measured. Velocity is extreme: the same dollar trades many times, so the segment weighs far above its headcount in value. ¹¹ It is the easiest segment to acquire (it moves for a few basis points) and the hardest to retain (it leaves for a few basis points).

At a glance

At a glance - Crypto-native traders & investors
Core motivations	Trading P&L; liquidity management; avoiding crypto volatility between trades; DeFi yield; FX/stablecoin spread arbitrage
Typical age range	20-45
Income / size	Broad; from small retail accounts to high-net-worth and semi-professionals
Financial sophistication	High to very high
Stablecoins used	USDT (primary), USDC, DAI; occasional niche stablecoins for spreads
Typical transaction size	$500 - $250K; high frequency
Main platforms	Binance, Mercado Bitcoin, Bitybank/Bitypreço, OKX/Bybit, DeFi protocols
Main pain points	Fees and spreads; latency and liquidity depth; custody/counterparty risk; tax treatment of frequent trading; regulatory uncertainty
Adoption drivers	Deep USDT liquidity; low fees; reliable APIs; fast on/off-ramp via Pix
Estimated share	~22% by value (18-26%, medium confidence); ~15% by users

Business

Foreign trade & supplier payments (SMEs)

The high-value commercial frontier.

The Brazilian SME paying overseas suppliers - electronics from China, software from the US - in USDT or USDC to escape the cost and latency of correspondent banking. 77% of global corporates use stablecoins for supplier payments, with a reported 10-20% cost saving. ¹⁷ Res. 561 (October 2026) forces this flow toward licensed intermediaries, converting gray-area behavior into a regulated product opportunity.

At a glance

At a glance - Foreign trade & supplier payments (SMEs)
Core motivations	Supplier payments cheaper and faster than SWIFT/correspondent banking; reduced FX risk between order and payment; working-capital efficiency
Typical age range	Owners/finance leads aged 30-55
Income / size	SMEs with international supply chains; payments of $5K to $500K+
Financial sophistication	Medium (strong on cash flow/FX, weaker on crypto mechanics)
Stablecoins used	USDT, USDC
Typical transaction size	$5K - $500K per payment
Main platforms	Exchanges with withdrawal, B2B payment providers (e.g., Trace, Conduit-type rails), OTC desks
Main pain points	FX/tax compliance under the new regime; the electronic-FX restriction; accounting treatment; supplier acceptance; volatility in the settlement window
Adoption drivers	Cost/speed vs. banks; supplier willingness to accept; Pix-to-stablecoin conversion; need for dollar liquidity
Estimated share	~18% by value (14-22%, low-medium confidence); ~4% by users

Individual

Global professionals (service exporters & remote workers)

Brazil's services-export boom, dollarized.

The developer, designer, or consultant who works for overseas clients and gets paid in stablecoins, selling for reais via Pix. Brazil has ~28.9M self-employed workers ²³ who routinely lose 8-15% of earnings to FX and transfer friction ²³ - exactly what stablecoins attack. High intent, recurring revenue, well served today only by generic remittance apps.

Go deeper: getting paid from abroad as a PJ

At a glance

At a glance - Global professionals (service exporters & remote workers)
Core motivations	Receive foreign income cheaply; minimize FX/transfer loss; keep a dollar cushion; simplify cross-border withdrawal
Typical age range	22-45
Income / size	Middle to upper-middle; monthly inflows of ~$500 - $10K
Financial sophistication	Medium to high
Stablecoins used	USDT, USDC (generally on low-cost networks)
Typical transaction size	$500 - $10K per receipt; monthly cadence
Main platforms	International exchanges, Brazilian exchanges for withdrawal, Wise/Payoneer (competing rails), wallets
Main pain points	Tax reporting (individual vs. PJ, DeCripto); FX spread on withdrawal; account/compliance freezes; client willingness to pay in stablecoin
Adoption drivers	Fee savings vs. banks/remitters; speed; dollar retention; withdrawal via Pix
Estimated share	~11% by value (8-14%, low-medium confidence); ~9% by users

Individual

Digital-dollar savers (retail)

The face of the market - and most of its users.

The middle-class Brazilian who buys small amounts of USDT or USDC via Pix to hold dollars as a hedge against inflation. Largest persona by users (~58%) and smallest by value (~10%): small tickets, low velocity. For an entrant, this persona is the engine of distribution and brand, not of immediate revenue. The mainstream-crossing signal: 1 in 4 new Nubank investors picks USDC. ¹³

At a glance

At a glance - Digital-dollar savers (retail)
Core motivations	Protect purchasing power; hold dollars without an overseas account; simple, safe saving; inflation hedge
Typical age range	18-45 (fast-growing under-24 segment)
Income / size	Lower-middle to middle; purchases of ~R$100 - R$2,000/month
Financial sophistication	Low to medium
Stablecoins used	USDT, USDC (USDC strong in the neobank channel)
Typical transaction size	$20 - $1,000; buy and hold
Main platforms	Nubank, Mercado Bitcoin, Binance, Bitybank, Pix-integrated apps
Main pain points	Fear of scams/exchange failure/depeg; tax-reporting uncertainty; trust; financial education
Adoption drivers	Inflation/real depreciation; Pix simplicity; neobank distribution; social proof
Estimated share	~10% by value (7-13%, medium confidence on users, low on value); ~58% by users

Individual

Remittances & family transfers

Real, but smaller than the narrative suggests.

Brazilians sending or receiving cross-border family transfers via stablecoins. The main place where we revise the earlier study downward: Brazil receives only ~$4B in remittances/year (~0.18% of GDP) ¹⁸ - modest for its size. Cross-border stablecoin value is dominated by trade and treasury, not households. The opportunity exists, but in specific corridors (Brazil-Portugal, intra-LatAm) and underserved diasporas.

At a glance

At a glance - Remittances & family transfers
Core motivations	Cheaper, faster family transfers; avoiding bank/remitter fees and delays
Typical age range	25-55
Income / size	Lower-middle to middle; transfers of ~$100 - $1,000
Financial sophistication	Low to medium
Stablecoins used	USDT, USDC
Typical transaction size	$100 - $1,000; recurring
Main platforms	Exchanges, wallets, remittance fintechs integrating stablecoin rails
Main pain points	Recipient's ability to cash out locally; scam risk; regulatory/electronic-FX constraints; teaching non-technical relatives
Adoption drivers	Fee/speed advantage; corridor coverage; on-ramp via Pix
Estimated share	~5% by value (3-7%, low-medium confidence); ~5% by users

Individual

Digital-economy consumers (gaming, betting & digital services)

The gray-toned growth edge.

The younger user who uses stablecoins for online gaming, sports betting, and international digital services, often to get around card declines or geo-blocking. We size it at ~4% by value and flag it as the lowest-confidence, highest-variance persona: part of the activity is regulatorily sensitive, the data is poor, and policy could expand or compress it sharply. For institutional entrants, it is as much a brand question as a commercial one.

At a glance

At a glance - Digital-economy consumers (gaming, betting & digital services)
Core motivations	Pay for international digital services/betting/gaming; bypass card friction and limits; privacy
Typical age range	18-35
Income / size	Lower-middle to middle
Financial sophistication	Low-medium in finance; high in tech
Stablecoins used	USDT, USDC
Typical transaction size	$10 - $500
Main platforms	Pix-integrated wallets, exchanges, gaming/betting platforms that accept crypto
Main pain points	Account/platform freezes; scam platforms; legal/regulatory ambiguity; cashing out
Adoption drivers	Avoiding card declines; speed; growth of the betting market; on-ramp via Pix
Estimated share	~4% by value (2-6%, low confidence); ~8% by users

Market composition

The analytical core: value vs. users

The table below is the analytical core of the report. It expresses each persona's share of Brazilian stablecoin activity on two independent bases - value (transaction volume, the metric that matters for revenue) and users (number of people, the metric that matters for reach) - with a plausible range and a confidence level for the value estimate.

The analytical core: value vs. users
Persona	By value	Range	Confidence	By users	Estimate basis
01. Institutional treasury, liquidity & OTC	30%	28-35%	Medium	~1%	Inferred from the growth in institutional transfers ¹ and the BCB's 'treasury' framing ⁴
02. Crypto-native traders & investors	22%	18-26%	Medium	~15%	Inferred from exchange volume concentration and USDT as the base pair ¹¹
03. Foreign trade & supplier payments (SMEs)	18%	14-22%	Low-medium	~4%	Inferred from corporate-usage surveys ¹⁷ and the BCB's cross-border framing ⁴
04. Global professionals (service exporters)	11%	8-14%	Low-medium	~9%	Inferred from the scale of the gig economy ²³ and analogous markets ²⁰
05. Digital-dollar savers (retail)	10%	7-13%	Medium (users) / Low (value)	~58%	Survey holding ¹⁰ + neobank data ¹³; low-velocity assumption
06. Remittances & family transfers	5%	3-7%	Low-medium	~5%	Constrained by macro remittance data ¹⁸
07. Digital-economy consumers	4%	2-6%	Low	~8%	Weakest evidence; high variance
Total	100%	-	-	100%	-

Exhibit 1

Share of activity by value

Institutional, business & markets Individual & household

Treasury & OTC

30%

Crypto-native traders

22%

Foreign trade (SMEs)

18%

Global professionals

11%

Digital-dollar savers

10%

Remittances

Digital economy

Share by value per persona, with low-high range
Persona	By value	Range
Institutional treasury, liquidity & OTC	30%	28-35%
Crypto-native traders & investors	22%	18-26%
Foreign trade & supplier payments (SMEs)	18%	14-22%
Global professionals (service exporters)	11%	8-14%
Digital-dollar savers (retail)	10%	7-13%
Remittances & family transfers	5%	3-7%
Digital-economy consumers	4%	2-6%

Bars show the central estimate; markers show the plausible range. Teal = institutional, business, and market flows; amber = individual and household flows. Source: bitsARK analysis.

Value estimates are inferred, not measured - no public data attributes stablecoin volume to economic purpose in Brazil. We triangulate from transfer-size distributions, holding surveys, exchange concentration, and the BCB's characterization, allocating to sum to 100%. We are confident in the ordering and the cluster split (~70% institutional vs. ~30% individual); less confident in any single midpoint - hence the ranges. The value and users columns are independent allocations; the mismatch is the finding, not an error.

Why Brazil matters

Four fundamentals that survive scrutiny

For a company allocating finite time and capital across emerging markets, 'Brazil matters' is a claim that has to withstand scrutiny. It does, on four independent fronts.

#5 Global adoption 2025

Scale with depth

$318B in crypto value received in the year to mid-2025, #5 in the global adoption index ²¹²⁵, and the growth is led by institutional transfers - the signature of the OTC desks, treasuries, and corporates that make a market bankable.

R$6.18 USD/real at end-2024

Structural, not cyclical, demand

The real lost ~27% against the dollar in 2024 alone, and every bout of fiscal anxiety translates reliably into fresh demand for digital dollars ¹⁹ - demand that doesn't switch off when the crypto cycle turns, because at bottom it isn't about crypto.

~42% of e-commerce via Pix

World-class payment rails

Pix made buying USDT with reais as easy as splitting a dinner bill ²² - stablecoins are, in practice, the dollar layer bolted onto the world's best instant-payment rails, now handling 42% of Brazilian e-commerce.

2025-26 BCB framework

Regulatory seriousness

For an institutional entrant, a defined licensing path is a feature, not a bug: it raises barriers to opportunistic competitors and gives banks and corporates the legal comfort to participate at scale. ¹⁶

Growth opportunities

Where regulation creates opportunity

Current share by value and future growth are not the same thing. Ranked by prospective opportunity rather than present size, the priorities for an entrant are:

Licensed cross-border settlement and treasury (Personas 1 and 3). Res. 561 converts gray-market behavior into a licensed product with high barriers to entry. ⁵¹⁶ Demand is structural - paying overseas suppliers is the #1 corporate use case globally ¹⁷; the winner is whoever offers FX documentation, custody, and compliance. It is the most attractive opportunity by expected value.
Mainstream distribution of dollar savings via neobanks (Persona 5). The Nubank/USDC playbook is the model: embed digital dollars in a trusted neobank. ¹²¹³ Per-user margins are thin, but scale and cross-sell (tokenized fixed income, cards) are enormous. The mobile-first under-24 cohort ⁹²⁶ is the demographic tailwind.
Tokenized fixed income and yield on a stablecoin base. Mercado Bitcoin's Digital Fixed Income doubled in 2025, distributing ~R$1.8B. ²⁶ Stablecoins are the natural entry asset for tokenized assets - pairing a dollar wallet with yield is a credible route to monetize the saver base.
Financial services for global professionals (Persona 4). 28.9M self-employed workers in Brazil ²³ are poorly served by generic apps. Cheap withdrawals, optimized FX, and integrated tax reporting (DeCripto) capture a high-intent, recurring-revenue persona.
Point-of-sale payments - option value. Still niche despite 85% stated demand ¹⁰, but Pix NFC integration and crypto cards make this the most-watched frontier. Treat it as an option, not a current revenue line.

Risks & constraints

What could compress or expand the market

Electronic cross-border FX restriction (BCB Res. 561, October 2026). Regulated providers cannot settle the offshore leg in stablecoins. ⁵ Individuals can still buy and hold; what is restricted is the regulated payment back end. VASPs face licensing, capital (~$2-7M), and asset segregation. ¹⁶¹⁴

Tax burden (DeCripto / OECD CARF, IN 2,291/2025). Granular reporting of purchases, sales, swaps, and transfers, phasing in across 2026. ²⁴ Friction is especially high for global professionals and savers - it raises the compliance cost for every individual persona.

Issuer and depeg risk. Concentration in USDT makes Tether's reserve questions systemic for Brazil. ¹⁵ Banning unbacked stablecoins is protective but does not eliminate the risk. A depeg would hit the saver base hard.

Venue concentration. Binance at ~76% of the USDT market ¹¹ is a single point of failure for liquidity. Bank de-risking (denying crypto-linked accounts) remains a recurring operational threat.

Macro reversal. The real's recovery to ~R$5.0 in 2026 ¹⁹ modestly dampens the panic-hedge impulse - not the structural preference for dollars, but the short-term urgency.

Reputational and gray-area exposure. The digital-economy/betting persona and informal remittance routes carry AML and consumer-protection risk that institutional entrants must weigh carefully.

Emerging markets

How Brazil compares with its peers

Brazil is best understood relative to its peers. Every major emerging market expresses the same underlying truth - people in unstable-currency economies want dollars and faster rails - but through different mechanisms and at different stages of institutional and regulatory maturity.

How Brazil compares with its peers
Market	2025 rank	Stablecoin share	Main driver	Institutional depth	Regulatory stance	Distinctive trait
Brazil	#5	~90% of flows	Dollar savings + cross-border settlement	High and rising	Comprehensive 2026 framework	Mainstream distribution via Pix + neobanks
Argentina	Top-20	~62%	Acute inflation / dollarization	Medium	Liberalizing	De facto digital dollarization; 75% of those paid in crypto prefer stablecoins
Nigeria	#6	40%+	FX scarcity, P2P access	Low-medium	Restrictive, evolving	Grassroots P2P leadership; ~$92B market
Turkey	Top	Very high	Lira depreciation	Medium	Tightening	Stablecoin use rivals the local currency
India	#1	Smaller / diversified	Trading, remittances, DeFi	High	High, uncertain taxation	Largest base; large diaspora remittances; UPI rails

Brazil is the emerging market where structural dollar demand most fully coincides with institutional depth, mainstream distribution (Pix + neobanks), and a credible regulatory perimeter. Argentina and Turkey are more saturated but smaller; Nigeria is grassroots and institutionally thin; India is larger but more diffuse and less stablecoin-centric. For anyone who wants size and the ability to operate as a licensed institution, Brazil is the single strongest bet. ⁷²⁰²

Methodology

Approach, caveats, and data gaps

Sources and method

A synthesis of: BCB and federal tax authority statements; blockchain analytics (Chainalysis, TRM Labs); industry and corporate surveys (EY-Parthenon, Oobit, Triple-A); exchange and issuer data; macroeconomic data (World Bank, FocusEconomics). Personas derived by mapping the earlier study's 14 segments ²⁹ to economic function and consolidating to the smallest evidenced set.

Measured vs. inferred

Measured facts (e.g., ~90% stablecoin share ⁴; 91.8% holding ¹⁰; ~76% Binance ¹¹; ~$4B remittances ¹⁸) come from cited sources. Inferred estimates (all persona shares by value) are triangulated allocations summing to 100%. Medium confidence = at least one strong source + corroborating signal. Low = thin evidence, wide range.

Limitations

There is no official attribution of stablecoin volume by use case in Brazil; shares by value are estimates. Self-reported data overstates active use. The regulatory regime is in transition (November 2025 - October 2026). Gray segments are inherently under-sized. Treat orderings and cluster splits as robust; individual point estimates as indicative.

Sources

29 references

Every quantitative and regulatory claim here is sourced. Inferred estimates are flagged as such in the Methodology and the composition table.

Latin America as a crypto powerhouse (2025 LatAm report) Chainalysis
2025 Global Crypto Adoption Index Chainalysis
Analysis of Brazil's new crypto framework Chainalysis
Stablecoins drive 90% of Brazil's crypto volume (Nov 2025) CoinDesk
BCB bans crypto/stablecoin settlement in cross-border payments (May 2026) CoinDesk
BCB prohibits crypto use in regulated cross-border payments The Block
What's driving the stablecoin surge in Argentina and Brazil Fireblocks
Cryptocurrency ownership data - Brazil Triple-A
Gen Z drives crypto boom as stablecoins and income tokens surge (Dec 2025) CoinDesk
Stablecoin adoption in Brazil at 91.8%, but spending still lags Oobit
Brazil crypto market retrospective - Apr 2025 (USDT share) Bitybank
Nubank pioneers digital-dollar access in Brazil with USDC Circle
1 in 4 new Nubank crypto investors chooses USDC Nubank
Inside Brazil's new digital-asset rules (VASPs) Fireblocks
Stablecoin regulation: what BCB Instruction 701/2026 changes KLA Advogados
BCB unveils new regulatory framework for crypto assets ANBIMA
LatAm corridor economics: enterprises bet on stablecoins (cites EY-Parthenon 2025) Polygon
Personal remittances received - Brazil World Bank
Brazil exchange rate and inflation FocusEconomics
State of stablecoins in Argentina - Sep 2025 Bitwage
2025 crypto adoption and stablecoin usage report TRM Labs
Pix turns 5 and accelerates real-time payments PYMNTS
Brazil freelance-platform market size and outlook (IBGE data) Grand View Research
Brazil crypto tax guide 2026 (DeCripto / CARF) TokenTax
Brazil's $318B crypto boom Cryptonews
Brazil's young investors drive adoption with stablecoins and tokenized bonds 2025 (Mercado Bitcoin Investor X-Ray) IndexBox
Stablecoin payments classified as foreign exchange under Brazil's new rules Sumsub
Blockchain & cryptocurrency laws and regulations 2026 - Brazil Global Legal Insights
Brazil stablecoin personas for bitsARK (prior internal study, 2025) bitsARK (internal)

Report updated on June 9, 2026

Next step

Evaluating entry into Brazil's stablecoin market?

Start with the market overview and the operational guide to getting paid as a company - the two assets that connect this research to execution.

See the Brazil stablecoins overview → Get paid from abroad as a PJ →