Brazil sees record demand for crypto and stablecoins

Demand for cryptocurrencies and stablecoins in Brazil has climbed to a record high, with crypto purchases in the first half of this year reaching $14.68 billion, up 135% from $6.24 billion a year earlier, Bitcoin News reported, citing Brazil’s central bank. The central bank said the increase became more pronounced in June, when crypto purchases totaled $2.54 billion, well above $1.48 billion in the same month last year. Separately, Brazil’s stablecoin purchases in May rose 158% from a year earlier to about $2.632 billion.