Mace
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Poking around opinions. #bitcoin | CEO DFB.Network (@DFB_defi) - We build FX on chain. Stablecoin & RWA Market Grower. $BRL $IDR $GBP $AUD $MXN $CAD $ZAR
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One step for a primitive, giant leap for money markets.
1/ Brazil鈥檚 election was decided Sunday, Oct 25. Traditional FX markets were closed 馃嚙馃嚪
Lula won a fourth term, and the real plunged 8% when markets reopened.
But traders on @Featherlend on @0xPolygon had already been trading the move overnight.
Here鈥檚 how frxUSD powered it馃УView quoted post on X
When you do, call me 馃槈
More countries will start to realize that issuing a local stablecoin increases demand for their currency, and in-turn their government bonds. USD have a huge lead already.View quoted post on X
馃槑
One 24-hour window in the BRZ/USD corridor: $1,808,908 settled across four pairs. 4,408 swaps, average ticket around $410.
That is not one whale moving size. That is a corridor in use.
Non-USD pairs don鈥檛 trend on the timeline. They settle anyway.View quoted post on X
Ouch.
JUST IN: 馃嚙馃嚪 Over $200,000,000,000 wiped out from the Brazil stock market at open after Lula da Silva wins Brazil's presidential election, defeating Fl谩vio Bolsonaro.View quoted post on X
