Director of Monetary Policy of the Central Bank of Brazil Gabriel Galipolo, who has been nominated to be the new President of the Central Bank of Brazil, attends a press conference at Central Bank of Brazil's headquarters in Brasilia, Brazil December 19, 2024. REUTERS/Adriano Machado/File Photo
(Reuters) - Brazil's central bank chief Gabriel Galipolo said on Thursday that crypto asset usage in the country has surged over the past two to three years, with around 90% of the flow linked to stablecoins.
Stablecoins are pegged to real-world assets, such as the U.S. dollar, and therefore fluctuate much less than other crypto assets like bitcoin.
