Tourists in Rio May Soon Pay with Crypto as Bybit and Tether Expand ⋅ Crypto World Echo
Bybit has entered a strategic partnership with Tether topromote cryptocurrency adoption in Brazil. Bybit ranks second in globalcryptocurrency trading volume. Tether is the issuer of USDT, the most widelyused stablecoin globally.
Plans for Crypto in Tourism Sector
Bybit and Tether are in talks with Visit Rio, the city’stourism authority. The plan is to introduce cryptocurrency payments withinRio’s tourism sector. Tourists using crypto for services, tours, or shoppingmay receive discounts and USDT bonuses. The initiative aims to position Rio asa crypto-friendly destination.
Stablecoin Use Increasing in Brazil
The partnership comes amid growing interest in digitalassets in Brazil. Central Bank Director Gabriel Galípolo stated that about 90%of Brazil’s crypto transactions involve stablecoins. Speaking at a recent BISevent, he noted most transactions are linked to cross-border payments, whichraise challenges for taxation and regulation.
You may find it interesting at FinanceMagnates.com: Bybit’sByreal to Link Centralized Exchange Features with DeFi Infrastructure on Solana.
🚀 Big news! Bybit & Tether are teaming up to boost crypto adoption in Brazil 🇧🇷. Get ready for easier access, more innovation, and a stronger crypto future in Latin America! 💥💰 #Crypto#Bybit#Tether#Brazil#CryptoAdoption#CryptoNews#Investingpic.twitter.com/4HBiWMVobS
— Crypto News Hunters 🎯 (@CryptoNewsHntrs) July 25, 2025
Tether’s Role in Digital Economy
Tether has a market capitalization exceeding $114 billionand plays a significant role in digital asset markets. This partnership withBybit focuses on expanding education and practical crypto use in Brazil.
Expanding Local Presence in Brazil
Bybit has been expanding its presence in Brazil. It recentlyappointed Israel Buzaym as its Country Manager. The company introduced localservices such as Bybit Pay and the Bybit Card to help users bridge traditionalfinance with crypto.
Bybit Enables Multi-Asset Trading Access
Meanwhile, Bybit has introduced Bybit TradFi, allowing usersto tradetraditional assets like gold, forex, indices, commodities, and stock CFDsalongside cryptocurrencies on one platform.
Powered by Infra Capital and subject to regionalrestrictions, Bybit TradFi targets both retail and institutional users. Thecompany is working with regulators to ensure compliance across jurisdictions.
This article was written by Tareq Sikder at www.financemagnates.com.
