Valour is now more visible in Brazil thanks to the Solana-linked product. More and more investors there prefer to put their money into regulated cryptocurrencies.
The Brazilian government has given Valour, a subsidiary of the publicly traded digital asset business DeFi Technologies, the go-ahead to start a Solana exchange-traded product (ETP). As more and more institutions show interest in the industry, this will allow local investors to legally trade one of the top cryptocurrencies based on market valuation.
On Tuesday, DeFi Technologies reported that Brazil’s main stock exchange, Brasil, Bolsa, Balcão (B3 S.A.), has granted the green light for the product Valour Solana (VSOL) to start trading on Wednesday.
Valour’s collection of Brazil-listed ETPs will grow with the addition of the Solana SOL$128.19 product. People can currently buy Bitcoin for BTC$87,869, Ether for ETH$2,956, XRP for XRP$1.94, and Sui for SUI$1.52.
VSOL, like Valour’s other Brazilian goods, will cost Brazilian reais. It will be built up to work like Solana, which is one of the most active layer-1 blockchain networks, in a conventional financial markets scenario. Valour’s launch is part of a bigger ambition to expand beyond its major markets in Europe. Brazil is the main focus of Valour’s growth around the world.
Brazil is adopting cryptocurrencies more and more
Brazil has been using digital assets more and more over the past few years. According to a new Chainalysis assessment, Brazil is currently the fifth best country in the world for digital assets, behind India, the US, Pakistan, and Vietnam.
Brazil scored well in many areas, such as employing centralised services for retail and decentralised finance and making it easy for businesses to get to them.
The spike is due to the proliferation of payment rails that employ stablecoins. The Brazilian central bank adds that stablecoins are quite popular for payments, especially when they are made across borders.
The company has also grown thanks to cryptocurrency exchanges. Mercado Bitcoin, one of the largest digital asset platforms in Latin America, has just started generating tokens out of real-world goods. This makes it an excellent choice for businesses that need blockchain-based financial solutions.