Transfero Brings Digital Brazilian Real to Avalanche
The launch opens a new door between Avalanche dApps and Brazil’s 215 million people
In May 2022, the most popular Brazilian stablecoin landed on Avalanche.
Transfero, an international fintech company with a blockchain focus, has brought a new stablecoin to the Avalanche ecosystem. The stablecoin, $BRZ, is pegged to the Brazilian Real, the official currency of Brazil. With the stablecoin’s launch, the 215 million people of Brazil now have easier access to Avalanche and Web3.
The integration comes as Brazilians are embracing DeFi. The most recent Chainalysis DeFi Global Adoption Index lists Brazil’s DeFi adoption in the top 20 of all countries, and in the top two of Latin American countries.
“The BRZ team is extremely excited to expand to the Avalanche ecosystem, having pools on Pangolin and Trader Joe to start,” said Thiago César, CEO of Transfero. “Brazilians can now participate in these leading DeFi protocols using their native currency and benefit from the high speeds, security, and reliability of Avalanche.”
Transfero mints and manages $BRZ, which is among the largest non-dollar stablecoins in crypto. Having found that non-dollar stablecoins have access, financial hedging, and other advantages, Transfero is minting local stablecoins in new jurisdictions.
Transfero’s objective: a more decentralized financial system.
The platform’s leadership calls Avalanche “a prime blockchain for DeFi operations” due to high TPS, Subnets, and the potential demand for a Brazilian stablecoin on-chain as a result of Avalanche having a vibrant DeFi ecosystem.
With this new integration, Brazilian users now have an easier on-ramp into Avalanche DeFi. Additionally, exchanges and dApps built on Avalanche have a more direct entry to the Brazilian market.
For more about the specific workings of $BRZ, visit the stablecoin’s website.
Transfero is an international company of financial solutions based on blockchain technology. Based in the Crypto Valley, Switzerland, its objective is to promote access to the crypto asset universe, enabling a safe transition to a more decentralized financial system through solutions such as Transfero Payments, a fiat gateway that integrates with all Brazilian banks, providing a reliable connection for global platforms interested in the Latin American market.
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