Trump targets Brazil's payments system while dollar stablecoins are quietly overtaking country's payments
Washington views Brazil’s promotion of non-dollar payment channels, including Pix and the growth of stablecoins, as a potential threat to dollar-based trade, even as dollar-linked stablecoins account for about 90% of Brazil's crypto transactions.
Source: CoinDesk
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DW NOTE
The U.S. is threatening tariffs to protect Visa and Mastercard from a free domestic payment system, while 90% of Brazil's crypto transactions already settle in dollar stablecoins. Washington wants Brazilian merchants to pay American card networks, even as Brazilians voluntarily dollarise their digital economy without coercion.