Bybit has entered a strategic partnership with Tether to promote cryptocurrency adoption in Brazil. Bybit ranks second in global cryptocurrency trading volume. Tether is the issuer of USDT, the most widely used stablecoin globally.

Bybit and Tether are in talks with Visit Rio, the citys tourism authority. The plan is to introduce cryptocurrency payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term within Rios tourism sector. Tourists using crypto for services, tours, or shopping may receive discounts and USDT bonuses. The initiative aims to position Rio as a crypto-friendly destination.

Stablecoin Use Increasing in Brazil

The partnership comes amid growing interest in digital assets in Brazil. Central Bank Director Gabriel Gal�polo stated that about 90% of Brazils crypto transactions involve stablecoins. Speaking at a recent BIS event, he noted most transactions are linked to cross-border payments Cross-Border Payments Cross-border payments refer to transactions involving individuals, companies, banks or settlement institutions operating in at least two different countries.The concept of cross-border payment is not new however, despite its rise in importance in the 21st century.New technology and the growth of blockchain has brought the term cross-border payment into our daily conversations.Cross-border payments are an essential term that refers to any transaction involving private individuals companies, bank Cross-border payments refer to transactions involving individuals, companies, banks or settlement institutions operating in at least two different countries.The concept of cross-border payment is not new however, despite its rise in importance in the 21st century.New technology and the growth of blockchain has brought the term cross-border payment into our daily conversations.Cross-border payments are an essential term that refers to any transaction involving private individuals companies, bank Read this Term , which raise challenges for taxation and regulation.

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