Crown CEO projects Brazilian real-pegged stablecoin market could reach R$1 trillion in a decade

John Delaney, co-founder and CEO of Crown, stated that the market for real-pegged stablecoins could reach R$1 trillion in circulation within ten years. Speaking at the Digital Assets Conference (DAC) hosted by Mercado Bitcoin, Delaney highlighted Brazil's favorable conditions, including a relevant local currency, a developed financial system, high interest rates, and a supportive regulatory environment. He noted that if these stablecoins capture approximately 8% of the Brazilian monetary base, the R$1 trillion milestone is achievable. Additionally, Fabricio Tota of Mercado Bitcoin reported that stablecoins now account for over 80% of crypto trading volume in Brazil, up from 3% in 2019.