Rio tourists may pay quickly with cryptography as Bibit and Tether expands

BYBIT has entered into a strategic partnership with Tether to promote the adoption of cryptocurrency in Brazil. Bybit is ranked second in the world’s cryptocurrency trading volume. Tether is the publisher of USDT, the world’s most widely used Stablecoin.

Bybit and Tether are in discussion with Visit Rio, the city’s tourism authorities. The plan is to introduce cryptocurrency payments within Rio’s tourism sector. Tourists who use Crypto for services, tours and shopping may receive discounts and USDT bonuses. The initiative aims to position Rio as a crypto-friendly destination.

Stablecoin usage is increasing in Brazil

This partnership comes amid growing interest in Brazil’s digital assets. Central Bank Director Gabriel Gallipolo said that around 90% of Brazilian crypto transactions are involved in stablecoins. Speaking at a recent BIS event, he noted that most transactions link to cross-border payments, poses tax and regulatory challenges.

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🚀Big News! Bybit & Tether is working together to encourage the adoption of cryptography in Brazil.

Be prepared for Latin America’s easier access, more innovation, and stronger cryptography future! 💥💰#crypto #bybit #tether #brazil #cryptoadoption #cryptonews #investing pic.twitter.com/4hbiwmvobs

– Crypto News Hunters🎯 (@cryptonnewshntrs) July 25, 2025

The role of tethers in the digital economy

Tether has a market capitalization of over $114 billion and plays a key role in the digital asset market. This partnership with BYBIT focuses on expanding education in Brazil and practical cryptography use.

Expanding local presence in Brazil

Bibit is expanding its presence in Brazil. I recently appointed Israel Buzym as country manager. The company has introduced local services such as Bybit Pay and Bybit cards to help users fill their traditional funds with Crypto.

BYBIT enables multi-asset trading access

Meanwhile, BYBit has implemented BYBIT TRADFI, allowing users to exchange traditional assets such as gold, Indices, merchandise, inventory CFDs along with cryptocurrency on one platform.

Equipped with Infra Capital and subject to regional restrictions, Bibit Tradfi is aimed at both retail and institutional users. The company works with regulators to ensure compliance across its jurisdiction.