USDT and Bybit Team Up to Boost Crypto Adoption in Brazil’s Tourism Industry
In a significant move to promote cryptocurrency adoption, Bybit, the world's second-largest crypto exchange by trading volume, has partnered with Tether (USDT) to drive digital asset integration in Brazil's tourism sector. The collaboration focuses on Rio de Janeiro, with ongoing discussions to enable crypto payments via Visit Rio, the city's official tourism authority. The initiative includes incentives such as discounts and USDT bonuses, aiming to attract both tourists and local businesses to embrace crypto transactions. This partnership underscores the growing role of stablecoins like USDT in real-world applications and marks a pivotal step toward mainstream crypto adoption in emerging markets.
Bybit and Tether Partner to Drive Crypto Adoption in Brazil's Tourism Sector
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has forged a strategic alliance with Tether to accelerate digital asset adoption in Brazil. The collaboration targets Rio de Janeiro's tourism industry, with ongoing negotiations to integrate crypto payments through Visit Rio, the city's official tourism authority.
The initiative proposes incentives including discounts and USDT bonuses for tourists using cryptocurrency to pay for services, tours, and retail purchases. This move strategically positions Rio as Latin America's emerging crypto-friendly destination, capitalizing on Brazil's growing stablecoin dominance—where 90% of crypto transactions already involve dollar-pegged tokens according to Central Bank Director Gabriel Galípolo.
Tether's involvement as issuer of the world's most traded stablecoin provides critical infrastructure for cross-border payments, though regulatory challenges persist. The partnership signals institutional confidence in Brazil's crypto market maturation, following Bybit's recent expansion of DeFi integration solutions on Solana through its Byreal platform.
Nigeria SEC Embraces Stablecoin Innovation with Regulatory Compliance
Nigeria’s Securities and Exchange Commission (SEC) has signaled support for stablecoin projects operating within the country’s digital asset framework. Director-General Emomotimi Agama, speaking at the Nigeria Stablecoin Summit in Lagos, emphasized the regulator’s openness to blockchain payment solutions that adhere to existing laws.
Stablecoins are gaining traction in Africa’s digital economy as volatile local currencies drive demand for dollar-pegged alternatives. Agama described Nigeria’s crypto landscape as "dynamic, young, and increasingly decentralized," noting stablecoins' growing role in daily transactions.
Chainalysis ranks Nigeria second globally in crypto adoption, fueled by remittances, commerce, and cross-border payments. USDT and USDC have become critical tools for citizens facing foreign currency shortages and inflation. Nathaniel Luz of the Africa Stablecoin Network welcomed the SEC’s stance as providing much-needed clarity for the emerging sector.
Tron Network Strengthens USDT Dominance as P2P Transactions Surge
Tron Network has solidified its position as the leading blockchain for USDT transactions, with wallet-to-wallet transfers now accounting for over 70% of activity. Peer-to-peer volumes have tripled since 2023 while exchange-based USDT flows maintain significant scale at $10 billion daily.
The migration of USDT activity from centralized platforms to direct transfers suggests growing organic usage of Tron's payment infrastructure. Despite CEXs still processing 40% of total USDT value flows, the $15 billion daily volume in off-exchange transactions marks a threefold increase from early 2023 levels.
