Brazil has launched a state-run encrypted messaging app to get government workers off WhatsApp for official business. But the software was never the only weak link.
A new Central Bank rule will require large transfers to be parked for 24 hours before they leave the country. The market it slows is mostly stablecoins, mostly Tether, and mostly bought inside bank apps.
Inventory has grown sixfold since 2012 and could double again by 2030. Whether it does depends less on cheap land than on delivering firm power to a developer's schedule.