CoinTelegraph highlighted the BRZ as the most traded Brazilian stablecoin in August 2020. According to the article, the transacted volume of the cryptocurrency reached R$ 187.2 million that month. The figure is well above the second place, whose volume traded was R$ 71 million.
The publication recalls that the BRZ stablecoin, developed by Transfero Swiss, is the most traded in Brazil in the accumulated, according to data published in May this year. Approximately R$ 508.879.190, 27 were traded in BRZ between August 2019 and February 2020. In addition, BRZ reached R$ 35 million of tokens issued in July. The figures left the token, in terms of number of trades, above the second leading cryptocurrency in the global market, Ethereum.
Tether is the most traded stablecoin in Brazil
The most traded stablecoin in Brazil remains the tether dollar (USDT) with R$ 4,004,202,285.72 in negotiations in the same period.
The stablecoins market is growing rapidly, according to the publication. And it has been gaining ground at the trading desks of large investment funds, traders and investors who keep them in the wallets in order to give stability to their portfolios.
Among the most popular stablecoins globally are tether (USDT), DAI and USDC. These two, in turn, are the most used stablecoins in the DeFi market, including the Compound protocol. And also the most borrowed stablecoins on the Aave.