According to Golden Finance, Brazil's central bank governor Gabriel Galipolo said that stablecoins dominate Brazil's cryptocurrency trading. Galipolo said at a Mexico City Bank for International Settlements event that Brazil's digital asset usage has surged in the past three years. Galipolo said 90% of the country's cryptocurrency usage can be pegged to stablecoins. Galipolo highlights the regulatory and oversight challenges posed by the widespread use of stablecoins in the payments sector, especially in terms of taxation and money laundering.