According to the latest report from the Brazilian tax authorities (RFB), the institution once again broke cryptocurrency purchase records in Brazil. The organization registered that about 42,000 companies purchased some kind of cryptocurrency in October. This is a new record for him overturning 40,161 companies that declared they bought cryptocurrencies in September.
Brazilian companies buy cryptocurrencies in waves
In Brazil, more and more companies are adopting cryptocurrencies as part of their finances. According to the latestdatapublished by the Brazilian Taxation Authority (RBF), approximately 42,000 companies were entrusted by law to receive cryptocurrency purchase statements from taxpayers during the month of October. of companies purchased some kind of cryptocurrency.
These 41,817 companies that bought cryptocurrency broke the previous record registered in September, and 40,161 also broke the previous record. However, the number of individuals who bought cryptocurrencies over the same period has fallen to 1,265,818, from about 1.5 million citizens who bought cryptocurrencies in September.
This new record suggests that financial institutions took advantage of low market prices to stockpile part of their own funds. Given that the figures presented correspond to October, the impact of the recent demise of one of the largest cryptocurrency exchanges, FTX, on Brazilian customer confidence in the cryptocurrency market is yet to be seen. There is none.
USDT Remains on top, BRZ rises
As with other opportunities, the report includes the number of transactions registered and exchanges using each token It also includes data on the amount paid. Following last month’s trend, the token used to settle more funds in Brazil in October was Tether’s USDT, a dollar-pegged stablecoin. Nearly $1.8 billion was traded in nearly 119,366 operations using USDT.
This popularity is further bolstered by the capabilities provided by third parties to connectUSDT to traditional financial systems. On Oct. 22, cryptocurrency service provider company Smartpay integrated its services with his ATM provider Tecban in Brazil, allowing users to convert USDT into fiat currency at his over 24,000 ATMs. I made it possible to exchange money.
However, Bitcoin (BTC) still recorded the largest number of transactions, with $1.34 million, with $190.2 million moved. The second highest was the domestic real-pegged stablecoin BRZ, with 693,086 operations. According to reports, these operations will be primarily on FTX, and it is unclear if this volume will be absorbed by other available markets. Completed the top 5 currencies.
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