Becoming increasingly established in the Brazilian market as a gateway to the crypto environment, BRZ continues to expand its reach. Now, the world’s largest non-dollar stablecoin is also available on the Moonbeam blockchain, opening up a range of opportunities for users.
The technical synergy between BRZ and Moonbeam lays the groundwork for innovative financial products and services that could offer attractive returns and new investment opportunities in the future.
Continue reading to understand more about this partnership.
What is Moonbeam?
Before delving into the specifics of this partnership, it’s essential to understand what Moonbeam is: a highly specialized blockchain that acts as a bridge for projects, allowing them to easily integrate into the Polkadot ecosystem.
It’s designed to provide compatibility with the existing Ethereum network, enabling developers to deploy existing Solidity smart contracts and dApp frontends with minimal changes. This feature has made Moonbeam an attractive platform for developers looking to expand their reach across multiple blockchains.
Why is BRZ on Moonbeam a game-changer?
The partnership between BRZ and Moonbeam is a game-changer in several ways. Firstly, it makes the Brazilian Real the second Real-World Asset (RWA) currency to enter the Moonbeam ecosystem as an XC-20 token, following USD-pegged assets.
Also, this move significantly enhances the utility and reach of BRZ, offering a more comprehensive range of financial activities and opportunities for users within the ecosystem.
Pedro Mace, Head of DeFi at Transfero, the issuer of BRZ, explained more details about this partnership:
“This partnership with Moonbeam represents a milestone for the Brazilian crypto community. By integrating BRZ into Moonbeam, we’re not only expanding the reach of the Brazilian Real in the digital realm but also opening new avenues for innovation and financial inclusion. This is a step towards making crypto more accessible and relevant to everyday Brazilians.”
Aaron Evans, Head of Operations at Moonbeam Foundation, has also expressed excitement about this collaboration.
“We’re excited to see the team at Transfero enable the ability to Mint BRZ directly to Moonbeam. Since we’ve been engaged with their team, we’ve been impressed by their technical acumen and focus on growing their product set. We believe that there are going to be some amazing applications where BRZ will be a crucial part of the success.”
Focusing on the technical aspects of the integration, BRZ’s incorporation into Moonbeam opens up several possibilities. It allows for the creation of new DeFi applications and services that can utilize BRZ as a stable and reliable currency, per Mace.
“The collaboration with Moonbeam marks a pivotal moment for BRZ. It enables us to leverage Moonbeam’s advanced technical capabilities to create more robust and versatile DeFi solutions. This integration is more than just a technical achievement; it’s a commitment to the future of decentralized finance in Brazil, empowering users with more secure, transparent, and efficient financial tools.”
This integration is particularly significant as Moonbeam continues to grow and attract new projects and partnerships, especially those tied to Brazil. The ability for BRZ to stand out and become one of the pillars for the Moonbeam ecosystem as it matures cannot be understated.
To understand how BRZ can be used in DeFi to change the daily lives of users, find out how a Brazilian entrepreneur uses the stablecoin and the decentralized finance environment to import products from the Chinese market!