The counterattack in the high-yield era—what allows Brazil's crypto market to grow by 43% against the wind?

【Crypto World】There’s an interesting phenomenon. Brazil’s benchmark interest rate Selic is as high as 15%, and the financial environment is not considered friendly, but cryptocurrency trading volume has not declined—in fact, it has increased by 43% year-over-year in 2025. This directly challenges the traditional notion: crypto assets only take off during a financial system collapse.

Who is driving this growth? Mainly young investors. They do not follow traditional routes and prefer stablecoins and tokenized products, viewing them as new options for asset allocation. Even more interestingly, traditional large banks like Itaú Unibanco have started advising clients to allocate Bitcoin to diversify their investment portfolios. What does this indicate? It shows that even in a conservative environment with high interest rates, institutions are beginning to recognize the value of crypto assets in portfolios.

It seems that the stability of the financial system cannot prevent the infiltration of crypto; rather, the demand itself is driving the market toward maturity.