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In the first quarter of 2023, there was a significant increase of 26% in the number of businesses engaged in crypto trading in Brazil, according to the latest report from the Brazilian Federal Revenue Services. This growing interest can be a good opportunity for Fintechs to increase their revenue potential.

According to the Brazilian Federal Revenue Services' latest report, 61,257 businesses engaged in crypto trading during the first quarter of 2023, showcasing a substantial 26% surge compared to the previous year's figures. The growing interest is further evident, with a few property developers now accepting cryptocurrency payments, adding another dimension to the expanding crypto ecosystem in Brazil.

The National Association of Realtors (NAR) reports that Latin American countries are consistently among the top foreign buyers of residential real estate in the US. In 2022, the LATAM region accounted for 23% of all foreign buyers in the US.

The use of crypto is becoming increasingly popular among individuals and businesses in Brazil. In March 2023, the number of individuals trading crypto reached a record high of 1.6 million, with a total volume of BRL 47.151 billion declared for the first quarter.

Economic challenges have long plagued Latin America, such as high inflation rates, volatile currencies, limited financial inclusion, and high remittance fees. However, the emergence of stablecoins has provided a transformative solution to these challenges, offering a secure and accessible alternative to traditional financial systems.

During the first quarter of 2023, Brazil, one of the region's leading drivers for crypto adoption, witnessed record numbers of businesses and individuals adopting crypto.

Surveys indicate a strong desire among merchants to accept crypto payments in the near future. However, businesses must evaluate all the associated risks before implementing a crypto strategy. In this article, we will thoroughly examine the potential risks, and more specifically, we will delve into the complexities surrounding peer-to-peer crypto payments on-chain, the counterparty risks, the price volatility, the privacy considerations, and the cybersecurity concerns.

Crypto has experienced a surge in popularity as a new investment asset class over the past few years, primarily driven by speculation. However, its potential as a viable means of payment is still in its early stages. In this article, we will delve into the current state of crypto payments, uncover real-world use cases from global merchants, and provide valuable insights into the complexities businesses may encounter when integrating crypto into their operations.