Almost the entire Brazilian crypto market now revolves around digital versions of the dollar


Federal Revenue data shows that stablecoins already account for about 80% of the volume of crypto assets declared in Brazil.
Between 2019 and 2025, approximately R$ 1.58 trillion was moved in crypto, with R$ 1.13 trillion in stablecoins alone.
The share of these assets went from 3.5% in 2019 to over 90% at some points in 2023, remaining close to 80% in recent years.
USDT leads with a wide advantage, concentrating about 88.7% of the total volume among stablecoins.
In addition to financial volume, the number of operations also grew: there were over 185 million declared transactions in the period.
Starting in 2026, these movements will be reported to the Federal Revenue via DeCripto, aligning Brazil with the OECD international standard.
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