RIO DE JANEIRO, BRAZIL - Amid a cryptocurrency boom in Brazil, several global crypto exchanges see Brazil as Latin America's top market by 2022.
The interest of Binance, Coinbase, Crypto.com, and other exchanges in Brazil has been growing as the region's largest economy struggles with significant economic imbalances.
Brazil has recorded a 10% inflation rate in 2021 and a steady devaluation of the Brazilian real against the dollar. From around R$4 in January 2020, the US currency has risen to around R$5.50 two years later.
This cocktail of macroeconomic imbalances has fueled the cryptocurrency boom . . .
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