DeFi & CeFi: The best case in the world to be studied is Brazil!

Here are 5 important pieces of information that make Brazil a promising market and position it as an emerging powerhouse in the global economic market.

Brazil is the 5th country in the world in terms of smartphone users.

In a recently released study, Brazil ranks as the 5th country in the world with the highest number of smartphone users. Among the 193 countries, Brazil is only surpassed by Indonesia, the United States, India, and China in terms of active mobile phone users.

Currently, the country has over 118 million people actively using smartphones. The study used data from the World Bank and Statista to analyze smartphone presence around the world.

Many people in Brazil use their mobile phones to access the internet and carry out financial transactions. However, the risk of fraud and scams involving cryptocurrencies is still high, as many users do not possess the necessary technical knowledge to ensure their protection.

Despite the growing interest and adoption of cryptocurrencies in Brazil, they are not used as a method of payment.

Pix sets a new record.

On 07/06/2023, there were 129.4 million operations, and on 07/07/2023, a new record was set with 134.8 million transactions.

In addition, Pix has surpassed credit and debit card payments in Brazil for the first time. According to a report by Matera, Pix transactions totaled 8.1 billion in the first quarter of 2023.

Carlos Netto, CEO of Matera, said, "Pix shows how payments can be intuitive. It represents the biggest threat to credit card dominance so far."

Pix is the 2nd most used instant payment method in the world.

Pix has also become the second most used instant payment system in the world (as of April 19, 2023, according to Bacen). With 29.2 billion transactions in 2022, it accounts for 15% of such operations worldwide.

It is indicated that Pix may reach the first place as the most used instant payment method in the world and also the largest in terms of volume in 2024.

Brazil is the 7th largest cryptocurrency market in the world.

A study conducted by fintech Alterbank in 2021 indicated that about 10% of Brazilians had already invested in crypto, and the country was the second-largest market in the Americas, behind only Mexico.

The Global Crypto Adoption Index 2022, published by Chainalysis, showed that Brazil has become the 7th largest global market in cryptocurrency adoption.

In a new survey on the use of crypto assets, it was found that Brazil experienced a huge increase of 355% in monthly searches for cryptocurrencies, possibly ranking 3rd place in 2023.

Brazil is the 2nd global leader in NFT adoption.

A recent survey by consulting firm Statista also revealed that Brazil ranks second in the global ranking of NFT adoption, with 5 million users.

Thus, the incredible and current reality in Brazil is that cryptocurrencies are seen only as a form of investment and market speculation, with the possibility of asset appreciation or depreciation.

With the ease, speed, and above all, the legal security offered by Pix, many wonder if cryptocurrencies are still necessary as a means of payment in Brazil.

Could Brazil be the first country in the world to live harmoniously with DeFi and CeFi?