The Brazilian cryptocurrency BRZ, pegged to the real and created by Transfero, reached in May the mark of 1 billion tokens in circulation. As a result, BRZ became the largest stablecoin pegged to a non-dollar national currency in the world in market capitalization, with reserves equivalent to US$ 230 million.
“BRZ is following the lead it was designed for, strengthening its position with confidence, transparency and reaching the rank of the largest non-dollar fiat currency-backed stablecoin in the world in less than two years of existence. We are very pleased to announce this new milestone to the market at a time of increasing consolidation of crypto-assets”, said Transfero’s CFO Carlos Russo.
The BRZ is currently the leading cryptocurrency pegged to the Brazilian real, It is integrated with the Ethereum, Solana, Stellar, Algorand, and Binance Smart Chain blockchains with a monthly trading volume of over US$ 320 million, having reached over 1 billion tokens in circulation. In addition, its creator, Transfero, included it as one of the founders of the Stablecoin Alliance.
Recently, Blockfolio announced the integration of BRZ into its portfolio, and BRZ was listed on the Asian exchange Coibene.