Brazil · Maintained reference
Money moves through Brazil in stablecoins.
Not as a bet — as working capital. The numbers below are sourced, anchored, and maintained for anyone who needs to cite Brazil’s stablecoin economy.
The numbers
US$318.8 bn
Brazil received an estimated US$318.8 billion in on-chain crypto value between July 2024 and June 2025 — the largest market in Latin America, at nearly one-third of the region's activity. 5
What the numbers mean
The 90% figure comes from spoken remarks at a Bank for International Settlements event in Mexico City on 6 February 2025, reported by Reuters and quoted verbatim in the Brazilian press ("mais de 90%" — more than 90%). It is the central bank's own framing of how crypto is used in Brazil — settling and paying, not holding — but it is an estimate from remarks, not a published statistical series. The declared-value and on-chain figures on this page are the measured complements. 12
Computed from the Receita Federal's open dataset of declared crypto-asset operations (15 April 2026 release, covering operations through December 2025): R$ 326.9 billion in USDT buy-and-sell operations, roughly 72% of the reported value across the main crypto-assets, with monthly shares between 68% and 79% across 2025. USDC adds roughly another 7%, so stablecoins together carry close to 80% of declared value. Declared value covers operations reported under IN RFB 1.888/2019 — Brazilian exchanges in full, plus off-exchange operations above the monthly reporting threshold — not all Brazilian crypto activity. 34
From the Latin America chapter of Chainalysis's 2025 Geography of Cryptocurrency report. The same chapter reports that stablecoin purchases made up over half of all exchange purchases with the Brazilian real between July 2024 and the end of June 2025, and that the region's growth was driven largely by institutional-sized transfers. The estimate is methodology-bound: report editions are not directly comparable year over year, so cite the period, not a growth multiple. 5
Brazil is the only Latin American country in the top five of the 2025 index's standard ranking. The index also publishes a population-adjusted ranking, where smaller markets lead and Brazil does not place in the top 20 — the 5th-place figure is the standard, value-weighted ranking. Latin America's year-over-year adoption growth rose from 53% to 63% in the same edition. 6
Instrução Normativa RFB 2.291/2025, published 14 November 2025, aligns Brazil's crypto-asset reporting with the OECD CARF standard. The prior model under IN RFB 1.888/2019 remains in effect through 30 June 2026; DeCripto raises the monthly reporting threshold for operations outside Brazilian-domiciled providers from R$ 30,000 to R$ 35,000 (Brazilian notation: R$ 35.000), and the first monthly filing, for July 2026 activity, is due by the last business day of August 2026. The Receita Federal states the new declaration changes how operations are reported, not how they are taxed. 78
Questions
- How much of Brazil’s crypto activity involves stablecoins?
- Brazil’s central bank president said in February 2025 that around 90% of the country’s crypto flow was linked to stablecoins, used mostly for payments. In the Receita Federal’s declared-operations data for 2025, USDT alone carried about 72% of reported buy-and-sell value, and stablecoins together close to 80%.
- Is Brazil the largest crypto market in Latin America?
- By on-chain value received, yes: Chainalysis estimates Brazil received US$318.8 billion between July 2024 and June 2025 — nearly one-third of all Latin American activity — and ranks Brazil 5th worldwide in its 2025 Global Crypto Adoption Index.
- What changes for crypto reporting in Brazil in July 2026?
- From July 2026, crypto-asset operations are reported to the Receita Federal through the DeCripto declaration (IN RFB 2.291/2025), which raises the monthly reporting threshold for operations outside Brazilian-domiciled providers to R$ 35,000. The prior model under IN RFB 1.888/2019 remains in effect through 30 June 2026.
- Where do these numbers come from, and can I cite them?
- Every statistic on this page is tied to a numbered source — central-bank statements, Receita Federal open data, and Chainalysis research — and carries its own as-of and last-reviewed dates. Cite freely with attribution: each statistic’s anchor (#stat-…) is permanent, so a citation keeps resolving even after a figure is superseded.
Sources & citations
Every figure on this page is tied to one of these sources, with primary sources first. Each statistic carries its own as-of and last-reviewed dates. Confirm against the source before you act on a number.
- 01 Brazil's Galipolo sees surge in crypto use, says 90% of flow tied to stablecoins
- 02 Galípolo: Brasil teve crescimento enorme no uso de criptomoedas, mas regulação é desafio
- 03 Criptoativos — dados abertos das declarações de operações (publicação de 15/04/2026, dados até 12/2025)
- 04 Criptoativos — orientação tributária da Receita Federal
- 05 Latin America: Crypto Adoption Grows — 2025 Geography of Cryptocurrency Report
- 06 The 2025 Global Crypto Adoption Index
- 07 Atos referentes à DeCripto (IN RFB 2.291/2025) — Receita Federal
- 08 RFB atualiza a regulamentação de criptoativos para o padrão CARF da OCDE — IN RFB nº 2.291, de 14 de novembro de 2025
Cite freely with attribution. Stat anchors (#stat-…) are permanent: they are never renamed and never deleted.
Disclaimer
This page is reference material: statistics compiled from the cited sources and reviewed on the dates shown per figure. It is not tax, legal, or investment advice, and TxFlows is not an accountant, an exchange, or a tax-filing service. Figures describe the period stated on each statistic and may be revised by their sources — confirm against the cited source before you rely on a number.
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