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Tether USDT Now Available at 24,000 ATMs in Brazil

Tether has announced that its USDT stablecoin will be available at 24,000 ATMs across Brazil starting the 3rd of next month.

24,000 ATMs in Brazil to Offer Tether USDT Exchange Starting November 3rd

Brazilian crypto service provider SmartPay will handle the deployment of USDT in the country, according to an announcement on its website.

Beginning November 3, users in Brazil will be able to convert their Tether stablecoins into Brazilian Reals at Banco24Horas ATMs. His TecBan, the company behind ATMs, operates about 24,000 of these machines across the country.

SmartPay is integrated with TecBan. That means each of these ATMs will support the company’s products, including the addition of new USDT.

SmartPay CEO Rocelo Lopes said:

“We used to say where you can pay with PiX, but you can pay with Tether tokens. Now, wherever you see Banco24Horas, you can convert Tether tokens to Reais.”

Tether’s USD-pegged coin, USDT, is the most popular stablecoin on the market. With a total cap of around $68 billion, the coin is actually the third largest in the entire crypto sector, behind Bitcoin and Ethereum.

The stablecoin firm claims the move will bring access to the cryptocurrency ecosystem to millions of people in a country where 34 million adults still have no bank account (2021). as of January).

Paolo Ardoino, CTO of Tether, said:

“The addition of Tether tokens to ATMs across Brazil gives us the opportunity to bring more people into the financial system. I guess.”

BTC price

At the time of writing, Bitcoin’s price is hovering around $19,000, down 2% over the past seven days. Over the past month, cryptocurrencies have gained 1% in value.

The chart below shows the coin’s price trend over the last 5 days.

Looks like the value of the crypto has continued to be stuck in a range during the last few days | Source: BTCUSD on TradingView

Bitcoin has been completely stagnant for weeks, with the cryptocurrency price frozen flat between $19,000 and $20,000.

The US CPI release very briefly revived the coin’s volatility as its value climbed to 9% within 12 hours, but when all was done the price returned to the $19,000 level again, BTC has taken the path of consolidation again.

Featured image from Mariia Shalabaieva on Unsplash.com, chart from TradingView.com

Tether USDT Now Available at 24,000 ATMs in Brazil

Source link Tether USDT Now Available at 24,000 ATMs in Brazil

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