BeInCrypto Brasil
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Stablecoin BRL1 linked to the Brazilian real debuts in the market
BRL1 was launched, the first stablecoin backed by both reais and Brazilian government bonds. The news was previously reported here on BeInCrypto last October.
Developed by a consortium that includes Bitso, Foxbit, and Mercado Bitcoin in partnership with Cainvest, the digital asset arrives with the promise of revolutionizing the local crypto market. BRL1 is committed to improving liquidity, efficiency, and security in transactions.
The creation of BRL1 is a milestone for the Brazilian crypto market, bringing more security and efficiency to transactions. In a scenario where there are still challenges and frictions between the crypto ecosystem and the traditional financial system, this stablecoin emerges as a catalyst for the integration of these two fronts. Our goal is to drive adoption and strengthen the sector's infrastructure, contributing to a more accessible and reliable environment, says Foxbit CEO Ricardo Dantas.
Developed by a consortium that includes Bitso, Foxbit, and Mercado Bitcoin in partnership with Cainvest, the digital asset arrives with the promise of revolutionizing the local crypto market. BRL1 is committed to improving liquidity, efficiency, and security in transactions.
The creation of BRL1 is a milestone for the Brazilian crypto market, bringing more security and efficiency to transactions. In a scenario where there are still challenges and frictions between the crypto ecosystem and the traditional financial system, this stablecoin emerges as a catalyst for the integration of these two fronts. Our goal is to drive adoption and strengthen the sector's infrastructure, contributing to a more accessible and reliable environment, says Foxbit CEO Ricardo Dantas.
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