This article is from cointelegraph.com.br and the original article can be read here in Portuguese
The Brazilian Digital Token (BRZ), a Brazilian real-backed stablecoin, has just taken another step towards consolidating itself as a bridge between the global crypto market and Brazil. That’s because the crypto asset expanded its participation in the institutional financial market, the focus of the Finery Markets digital assets marketplace, whose trading platform included the BRZ listing, as announced this week by Transfero Group, a startup developer of BRZ.
According to the statement, investors will have a highly liquid environment targeted at payments, which should represent a significant advance in terms of market share for the BRZ, as Finery Markets is considered the first crypto-native platform, multi-dealer on the market. FinchTrade will be the liquidity provider and institutional and corporate investors will be able to trade the BRZ/USDT and BRZ/BTC.
The internationalization of the BRZ is related to the birth of stablecoins according to an evaluation by Thiago Caesar, CEO of Transfero. For him, the fact that the first BRZ investors were from outside Brazil, as soon as the stablecoin was created, in 2019, is proof that the startup has always acted as a global company.
“Our first customers were from outside Brazil, so we have always acted as an international company with a global mindset. Today, we work to facilitate and provide better access to digital assets for both individual and institutional investors,” she argued.
The listing of BRZ on Finery Markets is also seen by Transfero as a reflection of the growth of investments in crypto assets in Brazil, whose market moved BRL 103 billion in 2021, a volume 400% higher than the previous year. What can also be noticed by the advance of the adoption of the BRZ at a global level according to the developer’s evaluation, which highlighted the BRZ world leadership among non-US dollar-paired fiat stablecoins.
For the CEO and co-founder of Finery Markets, Konstantin Shulga, the increased interest of platforms in Brazil is related to the share that the country represents on a global scale in the crypto market, fifth in the world in 2021.
“We will continue to expand our geographic presence to support the growing adoption of crypto payments. The addition of BRZ will enable all of our payments industry customers to gain access to the Brazilian market and strengthen their global presence,” he said.
FinchTrade advisor Charlie Walker added that BRZ will represent a link between the platform and the Brazilian market saying that:
“Launching in fast-growing markets like Brazil is the cornerstone of our global expansion roadmap. The essence of blockchain technology is supranational and we are happy to be among the companies that bring blockchain adoption to people all over the world.”
The advance of the BRZ can also be seen by the leap in the stablecoin in 2021, the year in which the BRZ recorded BRL 5.7 billion in trades, the largest share of the BRL 7.4 billion accumulated at the time, since its creation, as reported. O Cointelegraph Brazil.
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