The largest ATM operator in Brazil, TecBan, and Brazilian cryptocurrency services provider SmartPay collaborated with Tether to help integrate USDT with PiX, the country’s payment system. According to the release, SmartPay’s inclusion of USD in its offering would provide millions of individuals access to the ecosystem of digital currencies and the new financial revolution.
Users of Brazilian ATMs will soon be able to instantaneously exchange Reais for USDT and vice versa as well as transfer USDT anywhere in the world. Beginning in February, users will be able to use ATMs to deposit Brazilian Reals and receive USDT in their wallets.
“Adding tether tokens to ATMs across Brazil gives the chance to integrate more individuals in the financial system,” said Paolo Ardoino, CTO of Tether
With the release of the MXN stablecoin, which is pegged to the Mexican Peso, Tether entered the Latin American market in May. MXN paved the way for the introduction of additional fiat-pegged currencies in the area and acted as a test bed for registering new users throughout Latin America.
