$USDC Stablecoins are growing in Brazil, especially as a form of protection against the depreciation of the Brazilian real. These digital currencies are tied to stable assets, such as the US dollar, and have been used for financial transactions and as a store of value.

Regulation

The Central Bank of Brazil (BCB) has proposed regulations for stablecoins, including the prohibition of transfers to self-custody wallets, such as MetaMask or Trezor. This measure aims to concentrate operations within the regulated environment and prevent financial crimes. The proposal is open for public consultation until February 2025.