In the first nine months of 2024, cryptocurrency inflows into Brazil grew by 60.7 percent, surpassing the total inflows for the entire year of 2023. According to Chainalysis, Brazil's cryptocurrency market is currently the 10th largest in the world. One of the main reasons for the growth is the surge in the use of stablecoins within the country. Dollar-pegged digital assets account for nearly 70% of all crypto-related transactions.