The International Monetary Fund (IMF) has noted a significant growth in Brazil's stablecoin market since 2017.
According to the IMF, cross-border crypto flows in Brazil have been increasing at a faster rate than traditional capital flows, marking a notable shift in the country's financial landscape.
This development is based on reporting from CoinTelegraph.
The growth of stablecoins in Brazil reflects the global trend of increasing adoption of digital assets, but the specifics of this growth are unique to the country's economic situation.