USDT from stablecoin issuer Tether will soon be available at over 24,000 ATMs in this LatAm nation

Stablecoin issuer Tether has announced that local crypto service provider SmartPay will launch USDT tokens in more than 24,000 ATMs across Brazil starting November 3.

Brazil still has 34 million unbanked people, or those who don't have a bank account or don't use it often, according to a survey by Instituto Locomotiva in January 2021.

Tether said the inclusion of USDT in Smartpay's offerings will provide millions with access to the digital currency ecosystem and the coming financial revolution.< /p>

See also: Tether enters Latin America with a peso-pegged stablecoin

"After integrating tether tokens with Brazilian payment system called PiX, we integrated with TecBan, the largest ATM provider in Brazil. Before, we had the used to say where you can pay with PiX, you can pay with tether tokens – now where you see Banco24Horas, you can convert tether tokens to Reais,” said SmartPay CEO Rocelo Lopes.

One ​​of the most popular cryptocurrencies in the region right now is Tether tokens, the company claimed. According to recent research, UDST was one of the most frequently transferred tokens in the country.

Also read: How to buy Tether (USDT)

In August, 79,836 activities totaling over $1.4 billion and an average value of around $18,000 per person were conducted using USDT .

"The difficulties and limitations imposed by inflation and a poorly inclusive financial system have prevented many Brazilian citizens from participating in the country's economic growth," said Paolo Ardoino, CTO. from Tether.

"Adding tether tokens to ATMs across Brazil provides the opportunity to include more people in the financial system. This will bring major changes not only to the payments sector, but to the entire Brazilian financial ecosystem."

Next: Binance is among the top voteholders in Uniswap DAO, delegates over 13 million UNI tokens

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.