Brazil continues to see an increase in crypto activity as digital asset imports reach $1.4 billion in September.
Brazil’s digital asset imports reached $1.4 billion in September, a 40% leap from about $1 billion recorded in the same month of 2023, according to data released by the Central Bank of Brazil and local media reports on Oct. 29.
While imports surged, exports of digital assets remained relatively steady, totaling just $44 million in September 2024 from $45 million in the same period last year. As a result, the country’s net trade for crypto assets resulted in remittances of $1.385 billion, up from $987 million in September 2023.
The central bank’s report includes transactions on cryptocurrencies and stablecoins, with the latest accounting for 70% of all trades. The data reflects an increase in crypto activity in 2024 compared to 2023.
