Tether stablecoins to expand to 24,000 ATMs in Brazil next month

Brazil residents and visitors alike will be able to visit their local Banco24Horas ATM and convert Tether stablecoins (USDT) into Brazilian reais, according to a Tether statement. The Banco24Horas ATMs are a common sight around Brazil, located in high-traffic areas such as malls, grocery stores and gas stations. Tether calculated that Brazil-based crypto users moved more than $1.4 billion in USDT transactions in August. Brazil saw nearly 80,000 USDT operations that month, with transaction amounts averaging nearly $18,000. Brazil ranked seventh in the latest Global Crypto Adoption Index from blockchain analytics firm Chainalysis.