The adoption of crypto assets in Brazil may go further, turning the country into a Decentralized Finance (DeFi) world power. According to a new study by Accenture, this change should happen in the coming years through the tokenization of the economy
In addition to the advancement of crypto assets regulation in Brazil, which may be voted on in 2022, the Central Bank is developing a CBDC called digital real. These initiatives can contribute to turning the country into a DeFi world power on a global level.
The amount invested in crypto assets by Brazilians already represents 3% of GDP. By 2021, investors in the country held R$ 270 billion in crypto assets stored in digital wallets.
Another critical data that reinforces DeFi adoption in Brazil is the increase in the use of stablecoins. In 2021, the volume of transactions with this type of crypto asset jumped 300% compared to the previous year.
DeFi adoption on a global scale could represent US$150 billion in operational cost savings for the financial system. Meanwhile, US$250 billion was invested in the sector in 2021 alone.
Accenture’s survey also states that most Brazilians are considering investing in crypto assets. Some 60% of respondents said they will likely bet on digital currencies for the first time in 2022.
The massive adoption of DeFi projects will provide greater tokenization of assets worldwide. Accenture’s report estimates that 10% of Global GDP will be tokenized by 2027.
