Brazil's stablecoin demand exceeds Bitcoin, crypto purchases reach $14.68 billion in H1 2026

According to Bitcoin.com, Brazil’s central bank released a report on external sector statistics showing that Brazil’s total cryptocurrency asset purchases reached $14.68 billion in the first half of 2026, a 135% increase compared to $6.24 billion in the same period of 2025. Stablecoins accounted for over 90% of this demand, with stablecoin purchases alone reaching $2.632 billion in May 2026—a 158% year-over-year increase—making USD-pegged stablecoins the primary tool for payments and cross-border settlements in Brazil. Fernando Rocha, head of the central bank’s statistics department, stated that these figures indicate Brazil’s cryptocurrency market is maturing and becoming more integrated. On the regulatory front, Brazil’s central bank has decided to classify virtual asset service providers (VASPs) as Category III institutions, requiring them to comply with the same regulatory standards as securities brokers; the new regulatory framework will take effect in January 2027. Previously proposed plans to impose a 3.5% tax on stablecoin transactions have been shelved due to the upcoming presidential election.