Brazilian firms rush to stablecoins on election-day currency fears

Brazilian companies piled into stablecoins on election day to shield themselves from a possible currency crash, per CoinDesk. USDT volume on exchange Mercado Bitcoin jumped nearly 800% while bitcoin volume surged 865%, and Binance's USDT/BRL market tripled even as the global BTC/USDT pair fell.

The surge shows Brazilian businesses using dollar-pegged tokens as a hedge against election-driven volatility in the real, with local exchange activity far outpacing global crypto markets.