Brazilian digital banking giant Nubank has launched a new feature offering a fixed 4% annual return for users holding USD Coin (USDC), Circle’s stablecoin. The initiative, announced on January 14, extends the rewards program to all crypto wallet users after a successful trial with a select group last year. The ...
Bybit is making strides in the Brazilian market by introducing the physical Bybit Card. Brazilian users can now pre-register for the card and enjoy free issuance for a limited time. The launch follows the success of the virtual Bybit Card, which has been available since September 2024 and currently serves ...
Brazil’s Central Bank (BCB) has introduced a proposal that could dramatically alter how stablecoins are used in the country’s thriving crypto market. Announced on November 29, the draft regulation aims to ban the transfer of foreign-backed stablecoins, like USD-pegged tokens, from crypto exchanges to self-custody wallets. This move is part ...
Hong Kong's financial regulator, the Hong Kong Monetary Authority, has teamed up with the central banks of Thailand and Brazil to explore tokenization use cases in cross-border finance. In a press release on October 28, the HKMA announced that the collaborations would concentrate on creating use cases for tokenized assets ...
Brazil is integrating DeFi principles into the creation of its own "synthetic" central bank digital currency (CBDC), Drex, formerly known as the Brazilian digital real. According to Roberto Campos Neto, president of Banco Central do Brasil (BCB), the South American country aims to design a CBDC that tackles the "trilemma" ...
Brazilian authorities have reportedly launched a major crackdown on a multi-billion-dollar cryptocurrency-based money laundering operation spanning several cities, including São Paulo, Fortaleza, and Brasília. The operation, which has laundered billions of dollars, is at the centre of "Operation Niflheim," an effort led by the Federal Revenue Service and Federal Police. ...
Brazil's neobank Nubank has suspended trading its of native token, Nucoin. “From now on, the ability to buy and sell Nucoins within the app will no longer be available. Trading has been suspended, and Nucoins will only be used for redeeming benefits and products within the app,” Nubank noted in ...
Brazil's tax authority, the Special Department of Federal Revenue of Brazil (RFB), is set to summon foreign cryptocurrency exchanges operating within the country to clarify their operations and cooperation with local service providers, according to a new report from Reuters. Officials from the agency told Reuters that an ordinance expected ...
Binance has launched its instant payment service, Binance Pay, in Brazil. In a blog post on August 22, 2023, the crypto exchange noted that the move was to allow local merchants to offer a new payment alternative to their customers. Binance Pay is a contactless, secure payment service that facilitates ...
Brazil's central Bank, Banco Central do Brasil (BCB), announced on August 7, 2023, that their digital currency (CBDC) will now be called "Drex" instead of "Real Digital." According to the Central Bank’s official statement, the name "Drex" is an amalgamation of letters: the "d" and "r" is a nod to ...
