Argentina and Brazil want to introduce a common currency and reduce reliance on the US dollar

The governments of Brazil and Argentina will discuss the introduction of a common currency between the two countries.

This step will create the second largest unified economic zone in the world, similar to the euro, the currency used by most countries in the European Union.

reportThe arrival of Brazilian President Lula da Silva in Buenos Aires this week (January 23-27) could kick off the project.

Argentina’s Economy Minister Sergio Massa said:

“The necessary parameters for a common currency are being evaluated, from fiscal issues to the size of the economy to the role of the central bank,” he said.

A possible name for this new currency is ‘sur’. Its main goal is to facilitate trade in the region and reduce the dependence of South America’s two largest economies on the US dollar.


Brazil is exploring the possibility of creating its own stablecoin. Additionally, the first stablecoins for the Argentinian and Brazilian markets based on the Stellar network have already launched in 2020. The details of the new common currency are still unknown, but the potential for such a project is already attracting attention. much attention.

“Bitcoin is a lifeline for many citizens in Argentina and adoption is growing in Brazil. Brazil is Latin America’s largest crypto economy – in 2021,
7.8% Of the population of 214 million people use cryptocurrencies. The country’s policymakers and regulators are broadly supportive of the move to cryptocurrencies, indicating continued strong growth and increasing the likelihood that Brazil will become a regional hub,” said CryptoCouncil. said Amanda Russo, director of communications at . Argentina and Brazil want to introduce a common currency and reduce reliance on the US dollar

Show More
Back to top button