Brazil crypto purchases hit $14.68B in H1 as stablecoins account for over 90% of demand

Crypto purchases more than doubled

According to an external sector statistics report from the Central Bank of Brazil, demand for crypto assets including bitcoin, ether and stablecoins rose 135% from the same period a year earlier. Purchases totaled $14.68 billion in H1 2026, up from $6.24 billion in H1 2025.

The data cited by the bank cover transactions carried out by registered virtual asset service providers, or VASPs, meaning they do not represent the entire market. Even with that limitation, the numbers suggest adoption kept accelerating through the period. In June alone, crypto purchases reached $2.54 billion, compared with $1.48 billion in June 2025.

Stablecoins take the lead

The central bank said more than 90% of demand was tied to dollar-pegged stablecoins, underscoring how far the Brazilian market has shifted from its earlier concentration in bitcoin and other price-sensitive cryptocurrencies.

Fernando Rocha, head of the bank’s Statistics Department, told Valor Economico that the figures show a market moving beyond its initial phase and entering a period of consolidation. He said the crypto sector is still expanding in Brazil and globally while continuing to find practical applications.

That expansion appears to be closely linked to the use of stablecoins as dollar proxies for payments and cross-border settlements. The trend was also visible in monthly figures. In May 2026, Brazilians bought nearly $2.632 billion in stablecoins, a 158% increase from May 2025.

Limits of the current data

Rocha also cautioned that the central bank’s view remains incomplete under the current statistical framework. Because the data are based on registered providers, they offer only a partial picture of where crypto assets ultimately go after purchase.

The central bank expects that to change next year, when a new classification and reporting structure is set to broaden oversight of the sector.

New rules from 2027

Brazil’s central bank has decided to place virtual asset service providers in Class 3, aligning them with securities brokerage firms, securities distribution firms and foreign exchange brokerage firms for compliance purposes. The new regime is due to take effect in January 2027.

The change is intended to give authorities a clearer view of the destination of crypto assets moving through the system. It follows broader policy attention on stablecoin activity in particular. The source article said the government had considered a 3.5% levy on all stablecoin transactions, but that effort was delayed as the administration shifted into election mode.

Brazil’s latest figures suggest the country’s crypto market is growing not just in size but also in function. While bitcoin and other major tokens remain part of the mix, the central bank’s data indicate stablecoins have become the main vehicle for demand, especially where users want dollar exposure or tools for settling payments across borders. At the same time, officials are preparing a tighter reporting framework in 2027 to improve visibility into how those assets are used.