Tourists in Rio will be able to pay for services with cryptocurrency thanks to the collaboration between Bybit and Tether
Date: 2025-07-28 Author: Oliver Abernathy Categories: BUSINESS, IN WORLD
Cryptocurrency exchange Bybit has entered into a partnership with the issuer of the USDT stablecoin - the company Tether - to introduce digital payments in the tourism sector of the Brazilian city. Representatives of Bybit and Tether are currently negotiating with Visit Rio - the city's tourism department - to integrate cryptocurrency payments into services offered to tourists. Such a system will allow travelers to pay for excursions, services and purchases in cryptocurrency with additional bonuses and discounts in USDT.
The active development of this idea is associated with the growing popularity of digital assets in Brazil. According to Gabriel Galipolo, director of the Central Bank of the country, about 90% of all cryptocurrency transactions in Brazil are carried out with stablecoins. He noted that most of these transactions are cross-border payments, which creates difficulties for tax accounting and regulation at the state level. These data were announced during a speech at an event of the Bank for International Settlements.
Tether's market capitalization continues to increase and now exceeds $ 163 billion, which is facilitated by the active introduction of cryptocurrency into the everyday economy around the world, including in Brazil. In turn, Bybit aims to combine crypto and traditional finance, offering local services such as Bybit Pay and Bybit Card, which make cryptocurrency payments more accessible and convenient.
In addition, Bybit introduced the Bybit TradFi platform, which allows users to trade classic assets - gold, currencies, indices, commodities and stock CFDs - simultaneously with cryptocurrencies in one interface. This expands the possibilities for investors and traders looking to diversify their investments.
Thus, Bybit and Tether's collaboration with Visit Rio opens new horizons for the introduction of cryptocurrencies into the Brazilian tourism industry, providing convenient and profitable payment methods for tourists from different countries.
