BlockBeats News, September 27th, according to CoinDesk, Daniel Cunha, Chief Business Development Officer of Mercado Bitcoin, Brazil’s largest cryptocurrency exchange, stated that the company’s clients (mainly small and medium-sized enterprises) hold between 10% to 15% of their assets in custody.
These enterprises are not actively trading but rather holding Bitcoin, as well as stablecoins such as USDT and USDC, as a conservative treasury management tool, without pursuing high returns or attempting to invest in altcoins.
The executive mentioned that the increase in institutional activity is reducing the overall volatility of the entire crypto market, making Bitcoin more attractive to financial executives, and potentially paving the way for larger Brazilian enterprises to adopt cryptocurrency.
