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In 2022, the BRZ established itself as a reference in the Brazilian market, with more than 693 thousand operations carried out in October of last year alone. Now, the focus for 2023 is to expand its operations in the DeFi environment further.

The strategy, which began with partnerships such as the launch of the first decentralized lending at Midas Capital, promises to be even more intense throughout 2023.

Read on to understand more about BRZ’s achievements in 2022 and projects for 2023.

2022: The consolidation of the BRZ in Brazil

Throughout 2022, the BRZ achieved relevant achievements to consolidate itself in the Brazilian and international markets. The data released by the IRS confirm this trend: in addition to the nearly 700 thousand operations registered in the Brazilian crypto market using the BRZ, other figures stand out.

In October last year alone, these operations moved more than R$ 600 million, with an average price of more than R$ 800. The position of the largest non-dollar stablecoin in the world was corroborated when BRZ figured in the top 10 most traded crypto assets in Brazil.

This consolidation was made possible by the greater number of exchanges listing the BRZ on their platforms. Partnerships with Bitget, Phemex, and eNor, for example, contributed to more Brazilians and international users accessing the crypto market via the BRZ.

brz consolidation

In addition to these partnerships, BRZ also stood out in DeFi. At the end of last year, the integration of BRZ into the Chainlink price feed was completed to stimulate the development of new opportunities in DeFi.

Last year was also marked by the launch of the first yield farm of BRZ, available on Pangolin. Actions like this have made BRZ increasingly relevant within the DeFi environment.

Between September and December 2022, the total volume of BRZ operations at Uniswap was over 10 million. At BNB Chain, more than 30 million BRZs were traded in 2022 in the BRZ-BUSD pair alone. At Avalanche, another 2 million BRZs were traded in the last three months of the year alone.

BRZ in DeFi: the expectations for 2023

All the above data confirms the solid reputation of BRZ, which was not even impacted by, for example, the FTX bankruptcy. According to Fernando Oyo, Product Marketing Manager at BRZ, this reinforces the size of the stablecoin in the entire crypto market.

For 2023, Oyo points out that BRZ’s expansion strategy will be focused on the many opportunities available in DeFi.

“We will strengthen BRZ’s development in decentralized finance. In the coming weeks, we will have partnerships with relevant blockchains, which will offer even more solutions and resources for Brazilian and international users.”

One such partnership to be strengthened is with Polygon. Between October and December 2022, more than 600 thousand BRZs have already been traded in the BRZ-USDC pair on this blockchain, but the expectation is that this volume will increase even more.

“In addition to the partnership with Polygon, we are developing projects with other players that we cannot disclose yet, but the idea is to create numerous actions using each partnership’s opportunities.”

Despite the bear market and the crises that impacted the crypto market, the year 2022 was one of consolidation not only for BRZ but also for the entire crypto ecosystem worldwide.