stablecoin BRZ (Brazilian Digital Token), issued by Swiss-based company Transfero, announced this Wednesday (10) the purchase of CryptoBRL (CBRL), another stablecoin paired with the Real.
According to a statement sent to CriptoFácil, the deal aims to strengthen the BRZ and consolidate the stablecoin market in Brazil. At the same time, it aims to provide Brazilians with greater access to the global cryptoactive market.
about stablecoins
Created in early 2020 by a group of companies and exchanges, cBRL was developed using the ERC-20 standard from the Ethereum blockchain.
BRZ, in turn, was created in 2019 as the first Brazilian stablecoin in circulation. According to its broadcaster Transfero, today the stable digital currency is the largest of its kind among stablecoins not linked to the dollar.
“Today there are more than ten thousand cryptocurrencies and tokens in the world. But most of them are not available directly to the Brazilian user. We created the BRZ to lessen friction and give more access to the global cryptoactive market. The acquisition of cBRL aims to unite the Brazilian cryptoactive community”, explained Thiago Cesar, CEO of Transfero.
Exchange from cBRL to BRZ
The statement highlighted that those who have cBRL should exchange their stablecoin units for BRZ. For this, they must use the national brokerage BitPreço.
The exchange must be done by December 31st. This is because from this date onwards, all cBRL tokens will be unusable.
To perform the exchange, simply access the BitPreço exchange and convert to BRZ in a 1:1 ratio. Other platforms will be able to offer the service until December 31st.
To trade with BRZ, later, users will be able to use the platforms of Transfero, FTX, BitPreço, Crypto.com, Bittrex, ZBX, NovaDAX, BigONE, BitForex, VirgoX and on decentralized platforms.
In January of this year, BRZ joined the blockchain Solana, allowing for cheaper and faster transactions. In addition, stablecoin has launched, in partnership with the Solana Foundation, a fund of US$ 20 million to finance crypto projects from Brazil in the blockchain Solana.
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