Brazil is the largest country in crypto and stablecoins adoption in Latin America, according to the 2024 LATAM Crypto Adoption: The Rise of Stablecoins report by Chainalysis. This means that foreigners looking to pay a visit could find myriad opportunities to spend their digital assets in exchange for products and services.
Although most local businesses are not yet accepting crypto as a valid payment method, there are some brands that welcome the most popular ones, such as bitcoin (BTC) and ether (ETH).
Here are some examples of places where you can use your wallet to enjoy your visit:
Fast Shop
It’s a popular electronics store in Brazil, with over 80 stores currently in operation. Fast Shop supports bitcoin as a payment option for its physical and online stores. Most of their units are located inside popular malls in the biggest cities, such as São Paulo and Rio de Janeiro.
Housi
For those who wish to acquire real estate in the country, whether to invest or establish roots, Housi embraces not only bitcoin, but also other well-known digital assets as a form of payment. In some cases, it is possible to get considerable discounts when using cryptocurrencies, increasing competitiveness within the real estate market.
Ipiranga
The Ipiranga gas station chain allows you to pay for fuel and other goods with cryptocurrencies. To do this, simply configure your wallet and scan the QR code on the device to complete the purchase and read the QR Code on the device to complete the purchase. The process is as simple as debit or credit card payments, without the need for manual conversions.
Reserva
This Brazilian clothing brand is well-known for its irreverent and unique style. Both their physical and online stores welcome bitcoin, ether and other renowned cryptocurrencies as a valid payment option. They are commonly seen inside blockchain-specialized events, such as Blockchain.Rio. Reserva is also exploring nonfungible tokens (NFTs) to enhance its business.
Calvin Klein
One of the biggest fashion brands in the world accepts stablecoins and some cryptocurrencies in selected stores in São Paulo. They can be found at Oscar Freire Avenue, Shopping Morumbi, Shopping JK Iguatemi and Shopping Iguatemi.
Nobile Group
Those who are looking for a place to stay can pay with crypto and stablecoins at Nobile hotels. However, not all units are still ready to support digital assets, so it’s a good idea to have a conversation with the staff while making reservations.
Cine Multi
This cinema is located in Florianópolis, Santa Catarina (SC), and it’s the first one in Brazil to support bitcoin for buying tickets and other products.
Clube Turismo
This tourism agency is one of the first ones in the country to accept digital assets. Those who are looking to hire transfers, book reservations and guided tours around the country can make payments without fiat currency, such as American Dollar or Euro.
Zona Sul
Through Transfero Checkout technology, the Zona Sul supermarket chain has started accepting cryptocurrencies as a payment method, according to Valor. Therefore, it is enough to have a smartphone in hand to be able to enter this market and expand business possibilities with participants from all over the world.
Crypto & stablecoins are on the rise
This article contains just some of the most prominent establishments that accept crypto and stablecoins around Brazil. But there are others that are testing blockchain solutions to enhance their financial services, such as the Pão de Açúcar supermarkets franchise. The Casino Group which controls the brand uses Tezos (TXZ) as a payment method, according to Cointelegraph.
Some prepaid debit and credit cards can be filled with cryptocurrencies to make payments in businesses that aren’t ready just yet to embrace. Transfero has its own Mastercard solution that uses BRZ, a stablecoin that has the same value as the Brazilian Real (BRL). Other cryptocurrencies can also be stored and used as needed. Binance and Crypto.com also have their own credit/debit cards that also automatically make the necessary conversions.
Blockchain-based currencies are gaining traction among Brazilian consumers, which is leading to their mainstream adoption. A concise regulatory framework is also in the works to ensure that both businesses and users will have their best interests at heart.