According to Foresight News, the Brazilian Federal Revenue Service has reported a significant increase in stablecoin usage since 2019, with USDT and USDC being the most traded stablecoins in the country. The accumulated trading volume of USDT has surpassed 271 billion Brazilian reals, almost double the trading volume of Bitcoin during the same period.

Regulatory reports indicate that in 2022, the trading volume of USDT exceeded the combined trading volume of all other cryptocurrencies. Considering partial data for 2023, 80% of the reported cryptocurrency fluctuations are related to USDT.