Brazil, the largest economy in Latin America and one of the world's largest, is experiencing record growth in demand for cryptocurrencies and stablecoins.
According to an external sector statistics report published on Tuesday, demand for crypto assets in the first half of 2026 more than doubled, with purchase volumes reaching $14.68 billion. This represents a 135% increase compared to the first half of 2025, when Brazilians acquired digital assets worth $6.24 billion.
Although the central bank statistics are not perfect, as they only include transaction volumes carried out by registered Virtual Asset Service Providers (VASPs), they indicate an acceleration in the rate of cryptocurrency adoption, especially in June, when $2.54 billion worth of cryptocurrency was purchased compared to $1.48 billion in June 2025.
In May 2026, Brazilians purchased nearly $2.632 billion worth of stablecoins, a 158% increase from May 2025.
Fernando Rocha, head of the bank's statistics department, told Valor Econômico that these figures indicate the consolidation of the national cryptocurrency market, which has already passed its initial phase.
"The crypto asset market is relatively new, although not so new anymore. It is still expanding both in Brazil and worldwide. It is consolidating and finding new areas of application and use," he stated.
This demand is driven by dollar-pegged stablecoins, which enjoy a high level of acceptance as they can serve as substitutes for the dollar in payments and cross-border settlements. Rocha pointed out that demand for stablecoins exceeded 90%, signaling the evolution of a market that just a few years ago was focused on Bitcoin and other volatile cryptocurrencies.
The expansion of stablecoin use prompted the country's government to consider introducing a 3.5% levy on all stablecoin transactions. This initiative was ultimately postponed as the current administration shifted into pre-election mode.
Nevertheless, Rocha emphasized that the central bank's view of the national cryptocurrency ecosystem is limited by current statistics, explaining that starting next year, the institution will have a more complete picture of the fate of these assets.
The central bank has decided to classify VASPs as class 3, meaning they will have to comply with the same requirements as securities brokerages, securities distribution companies, and foreign exchange brokerage firms. This new regulatory regime, which takes effect in January 2027, will allow the central bank to track where these assets are flowing.
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