Tether Stablecoins will expand to more than 24,000 ATMs across Brazil starting November 3, in partnership with Brazilian payment solutions startup SmartPay.
Brazilians and visitors alike will be able to visit their local Banco24Horas ATMs and convert Tether Stablecoins (USDT) to Brazilian Real, according to Tether, the Banco24Horas ATMs are the most common in Brazil. They are located in busy areas such as department stores, grocery stores and gas stations.
“The addition of Tether tokens to ATMs across Brazil provides an opportunity to include more people in the financial system,” Tether Chief Technology Officer Paolo Ardoino said in a statement. “This will bring a significant change not only to the payments industry. but also all Brazilian finances.”
Brazil is ranked7th place In the latest Global Crypto Adoption Index from blockchain analytics firm Chainalysis, the company calculates that Brazil earned nearly $142.7 billion in cryptocurrency between July 2021 and June 2022, more than any other country in the region.
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