Tether has announced plans to make its stablecoin USDT available in over 24,000 ATMs in Brazil from Nov 3. This will be enabled by Brazilian crypto services provider SmartPay.
“The difficulties and limitations imposed by inflation and a less-than-inclusive financial system has excluded many of Brazil’s citizens from being able to participate in the country's growing economy,” says Paolo Ardoino, chief technology officer of Tether.
“Adding Tether tokens to ATMs across Brazil provides the opportunity to include more people in the financial system. This will bring major changes not only to the payments industry but to the entire Brazilian financial ecosystem.”
USDT is one of the largest tokens in the cryptocurrency space with a live market capitalisation of US$68.4 billion ($97.6 million), according to data by CoinGecko.
Meanwhile, institutional digital asset data provider and financial conduct authority (FCA)-authorised benchmark administrator CryptoCompare has launched its updated exchange ranking system Exchange Benchmark, which now includes a framework for ranking and assessing the risks associated with decentralised exchanges (DEXs).
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This is in light of skyrocketing trading activity on DEXs, occasionally surpassing volumes of Centralised Exchanges. The DEX Benchmark will function independently from the Exchange Benchmark, featuring a methodology that covers over 60 metrics under the areas of security, community, transparency, governance, market quality and incentives.
Non-fungible token (NFT) gaming platform Balthazar DAO will be adding open-source blockchain Tezos to its list of supported blockchains.
This is in a bid to help Balthazar DAO build its new infrastructure product, Babylon, which aims to provide game creators with the tools they need to create a smooth gaming experience that integrates the benefits of digital ownership.
