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Central Bank of Brazil Highlights Tokenization Potential Before IMF and World Bank
26.10.2024
The Central Bank of Brazil propped up tokenization and “open finance” as key elements of the future’s financial system. In a panel presentation before the IMF and the World Bank, the bank’s president stated that the intersection between these had been underestimated. Central...
Brazil Calls for Unified BRICS Financial System, Challenging Western Hegemony
24.10.2024
Brazilian President Luiz Inacio Lula da Silva has urged the creation of a unified financial system among BRICS nations. He emphasized the need for alternative monetary relations. Egyptian President Abdel Fattah el-Sisi echoed this sentiment, advocating for financial settlements in national...
International agencies report on tokenization to G20 officials
22.10.2024
The Bank for International Settlements and the Financial Stability Board have similar views on tokenization — it could provide new benefits and familiar challenges
Cryptocurrency Transactions’ Volumes Spike Nearly 25% in Brazil
22.10.2024
The volume of cryptocurrency transactions in Brazil has yet again registered record numbers. According to figures offered by the Brazilian IRS equivalent, volumes grew 24.2% compared to last year, reaching over $43.5 billion between January and September 2024. Stablecoin volumes were significant...
Latam Insights Encore: Brazil Can Lead the Way to Full BRICS De-Dollarization
22.10.2024
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine the recent movements by Brazil to further push de-dollarization within BRICS and how this might affect the trading framework of the entire...
Millions Already Hold This Latam-Based Dollar Pegged Stablecoin
21.10.2024
Mercado Libre, the Latin American e-commerce and financial services giant, has reached a milestone with meli dolar, an in-house distributed dollar-pegged stablecoin. The token, launched in August, is now in millions of wallets, according to Ignacio Estivariz, VP of Fintech Services at Mercado...
Latam Insights: Brazil Pushes BRICS Away From the US Dollar, Bitcoin Adoption Falters in El Salvador
21.10.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Brazil pushes BRICS to use national currencies instead of the dollar, bitcoin adoption reaches critical levels in El Salvador, and smart contracts achieve...
Ripple CEO Praises the State of Cryptocurrency Regulation in Brazil
20.10.2024
Brad Garlinghouse, CEO of Ripple, a payments and cryptocurrency service provider, has praised the state of cryptocurrency regulation in Brazil, one of the largest crypto markets in Latam. In an interview with Valor Economico, Garlinghouse highlighted the central bank’s work to make Brazil...
Tokenization and Stablecoins Close to Being Regulated in This Latam Giant
18.10.2024
The President of the Central Bank of the Latin American giant announced plans to expedite the regulation of asset tokenization and stablecoins by 2025. The bank will issue a new consultation this month to gather more input on the rules for approving VASPs’ operations in the country. Central...
Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade
17.10.2024
Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims...
Blackrock CEO Larry Fink Declares Bitcoin an Asset Class, Rivaling Gold in Investment Potential
15.10.2024
Blackrock CEO Larry Fink has emphasized bitcoin’s growing legitimacy as an investment, calling it an alternative to commodities like gold. “We believe bitcoin is an asset class in itself,” said the CEO of the world’s largest asset manager. Fink downplayed regulatory changes...
Drex Brazilian CBDC pilot will work on privacy, DeFi in phase 2
14.10.2024
The Brazilian central bank has 13 participants for phase 2 so far, and it is willing to take on an unlimited number.
Chainalysis Latam Report Highlights Major Crypto Growth Milestone in Surprising Nation
12.10.2024
A Chainalysis report reveals that Argentina surpassed Brazil in cryptocurrency value received during the period examined, highlighting the high adoption of stablecoins in Latin America. However, Venezuela was the market that grew the most, rising by 110% despite the current political and economic...
BRICS Nations Set for 4.4% Growth in 2024-2025, Outpacing G7 Economies
11.10.2024
Russian Finance Minister Anton Siluanov has emphasized the rising influence of BRICS nations during a recent event, noting their projected economic growth of 4.4% in 2024-2025, compared to 1.7% for G7 countries. Siluanov highlighted BRICS’ growing share of global GDP, now at 36.7%, and...
Brazilian Authorities Launch Operation Targeting Entities Facilitating Crypto Money Laundering
10.10.2024
The Brazilian Federal Police launched Operation Alcacaria this Wednesday, aiming to thwart the action of a network focused on providing money laundering services using cryptocurrency. The operation involved 62 search warrants, 13 arrest warrants, and the seizure of funds of the involved entities...
Argentina overtakes Brazil in crypto inflows — Chainalysis
10.10.2024
Argentina’s stablecoin market is one of the largest in the world in terms of share of stablecoin transactions, beating the global average by 17%
Argentina overtakes Brazil in crypto inflows — Chainalysis
10.10.2024
Argentina’s stablecoin market is one of the largest in the world in terms of share of stablecoin transactions, beating the global average by 17%
BRICS More Attractive Than EU, Says Serbia’s Vulin
10.10.2024
Serbia’s Deputy Prime Minister Aleksandar Vulin has championed BRICS as a compelling alternative to the European Union, emphasizing the economic bloc’s appeal for Serbia. He highlighted how BRICS does not impose political conditions like the EU, stressing cooperation based on respect...
Brazilian Crypto Giants Team up to Launch Real-Pegged Stablecoin
9.10.2024
Bitso, Mercado Bitcoin, and Foxbit have joined forces to issue brl1, a stablecoin pegged to the value of the Brazilian real. The stablecoin will be issued on Ethereum and Polygon, with Cainvest providing liquidity for the BTC and ETH pairs listed on these exchanges and other markets to be developed...
X to be restored in Brazil in 24 hours, rules Justice Alexandre de Moraes
8.10.2024
The ruling came after the social media platform settled a roughly $5.5 million fine in the South American country