Dollar stablecoins are expanding in Brazil alongside the country’s widely used Pix instant-payment system. Data cited by CoinDesk indicates that dollar-linked assets account for roughly 90% of Brazilian crypto transactions.

They are used not only for trading but also for savings, international transfers and access to dollar liquidity. Brazil’s payment infrastructure has also become part of trade tensions with the United States, which views the promotion of non-dollar channels as a competitive issue.

Stablecoins create the opposite effect: they operate through local digital rails while increasing the use of the U.S. dollar in private payments without requiring a direct relationship with an American bank.