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Brazil and China Deepen Trade Integration to Move Away From US Dollar, as First Yuan-Based Settlement Is Processed

15.4.2023
Brazil and China have reached a milestone in their economic integration, as the first bilateral settlement in Chinese yuan was completed ahead of the visit of President Luis Inacio “Lula” da Silva to China. The settlement, which was processed by the Industrial and Commercial Bank...

C6 Bank’s Climate Tool to Track CO2 Emissions From Customer Transactions Prompts Debate on Future of Banking

14.4.2023
On April 13, a C6 Bank customer in Brazil shared screenshots of his online bank account, revealing that the financial institution was tracking CO2 emissions from his purchases and urging him to compensate monetarily. C6 Bank states that the new tool aims to inspire Brazilians to adopt more...

Brazilian Supermarket Bomber ‘Demanded BTC Ransom’

14.4.2023
A Brazilian barber has admitted to blowing up a supermarket and trying to blackmail its owner into paying a Bitcoin (BTC) ransom. In an official police release, officers explained that the man demanded a BTC payment of just under $61,000. The man, described as a 33-year-old barber with...

Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency

13.4.2023
According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries have to base their...

$178M Brazilian ‘Crypto Scam Ring’ Flees Abroad – Where Did Masterminds Go?

11.4.2023
The Brazilian operators of a suspected crypto scam reportedly fled the country just before the police launched a probe into the company behind the project. Police think that the company raised some $178 million in investments from around 7,500 people. The Brazilian media outlet Livecoins reported...

Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

8.4.2023
China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March, Saudi Arabia’s Cabinet...

Latam Insights — Alliance Against Inflation, BTG Pactual Launches Stablecoin, and Argentina Debuts New Dollar

8.4.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Latin American nations ink an agreement to reduce inflation, Brazil-based BTG Pactual launches its own dollar-pegged stablecoin, and Argentina...

Brazilian Investment Bank BTG Pactual Brings Out Dollar-Backed Stablecoin

5.4.2023
BTG Pactual, one of Latin America's largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform Mynt

US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States

4.4.2023
After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent...

Brazil bank BTG Pactual to issue USD-pegged stablecoin

4.4.2023
The new USD-pegged stablecoin aims to help BTG Pactual’s customers interact between the traditional financial system and the digital economy

Ron Paul on the Fall of the US Dollar as Reserve Currency: ‘It’s Always Longer Than Some Predictions’

4.4.2023
Ron Paul, a former U.S. representative and member of the Libertarian Party, has addressed recent events directed to undermine the influence of the U.S. dollar as a reserve currency in international markets. Paul believes that even if this does happen, it will probably take more time than some...

India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar

3.4.2023
The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments for countries...

Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now

3.4.2023
On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of...

BRICS Emerges as the World’s Largest GDP Bloc, Propelled by China’s Rapid Expansion

31.3.2023
BRICS, a set of countries grouped as an alternative to the G7, is now the world’s largest gross domestic product (GDP) bloc, taking purchasing power parity into account, according to reports from Acorn Macro Consulting. Powered By China’s growth, the group now contributes 31.5% to...

Suspected Brazilian Crypto Scam Firm Workers Caught on CCTV on Way to Empty HQ

31.3.2023
“Employees” at Brazilian company at center of crypto scam allegations have been filmed apparently on their way to remove evidence – under the cover of night. The Brazilian media outlet Livecoins shared a video showing “at least two people” entering the company, Braiscompany. The offices have been...

China Makes Advances in Ditching the US Dollar for Settlements — Inks Deal With Brazil and Completes First Yuan LNG Purchase

31.3.2023
China has been advancing its goal of positioning the yuan as an alternative to the U.S. dollar for settling international payments. The Chinese government recently struck a bilateral deal with Brazil to settle trades using their national currencies and completed a purchase of Liquefied Natural...