Brazilian firms buy stablecoins as election sparks currency volatility
CIE News ·
Based on reporting by CoinDesk; not yet independently confirmed.
Brazilian companies drove 78% of Mercado Bitcoin's trading volume on October 25, 2026, boosting stablecoin and crypto turnover to hedge against currency swings after the presidential election, CoinDesk reported.
Brazilian companies turned to crypto markets to hedge corporate treasuries following the presidential election victory of Luiz Inácio Lula da Silva on October 25, 2026, according to CoinDesk. Exchange operator Mercado Bitcoin reported that corporate accounts generated 78% of its Sunday volume, while retail traders accounted for 22%. On the platform, turnover in Tether (USDT) jumped nearly 800% from the prior week, and Bitcoin (BTC) volume increased 865% compared to the previous Sunday.
The hedging activity broadened across regional trading venues as the US dollar gained more than 8% against the Brazilian real the following day. Tracking platform Biscoint reported that turnover in USDT against the real climbed 150% from the previous Sunday, while USD Coin (USDC) volume rose 318%. On Binance, BTC turnover against the real climbed 370% even as its global BTC/USDT volume fell 25%.
By October 26, combined USDT and USDC turnover across tracked platforms reached 1.84 billion reais ($350 million), marking a 65% rise from the previous week, CoinDesk reported. Total BTC trading volume also rose more than ninefold to 1,336 BTC as the local benchmark Ibovespa stock index fell 14%.
Key facts
- 78% corporate volume on MB
- USDT volume up nearly 800%
- BTC volume up 865% on MB
- $350M stablecoin turnover