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