Polkadot Partners with São Paulo for Education as Brazil's Crypto Market Surges

Open-source blockchain protocol Polkadot announced a partnership with SP Negócios, São Paulo's investment and export promotion agency, to launch a blockchain development program amid Brazil's record-breaking cryptocurrency trading volumes nationwide.

The initiative, set to launch in December through Polkadot's educational division Código Brazuca, will offer free online blockchain programming courses to São Paulo's business community. The program targets a spectrum of participants, from individual developers to established corporations, and requires no prior technical qualifications.

Polkadot's program aims to strengthen the city's position as a technology hub. SP Negócios, an autonomous social service linked to the Municipal Secretariat of Economic Development and Employment, will oversee the program's implementation.

"The partnership between Polkadot and SP Negócios will contribute to the training of Blockchain Programmers and is open to bringing technology to companies in São Paulo, whether they are startups, small and medium-sized enterprises, or large corporations seeking to invest in or adopt the technology," said Gustavo J. Massena, Decentralized Business Developer at Polkadot.

The training program will cover various aspects of blockchain technology, including decentralized finance, asset tokenization, and NFTs.

Recent central bank data underscores the program's timing, as Brazil's cryptocurrency market demonstrates unprecedented growth. Currently ranked as the world's tenth-largest crypto market by blockchain analytics firm Chainalysis, Brazil has seen stablecoins dominate its crypto landscape, accounting for nearly 70% of all crypto transactions in 2024.

Year-to-date figures through September 2024 show total crypto imports reaching $13.7 billion, a marked increase from the $8.4 billion recorded during the same period in 2023.

Net digital asset imports reached $12.9 billion through September, surpassing 2023's total of $11.7 billion with three months remaining in the fiscal year. September alone recorded $1.4 billion in net crypto imports, a slight decrease from August's $1.5 billion but marking a substantial 40% increase from September 2023's $1 billion.

Monthly crypto export figures have remained relatively stable, with September recording $44 million compared to $45 million last year. The dramatic disparity between imports and exports has contributed to a net trade balance of $1.385 billion in crypto assets for September, up from $987 million year-over-year.

The partnership announcement comes as Central Bank Chief Roberto Campos Neto confirmed plans to implement stablecoin regulations in 2025, citing concerns over tax evasion and illicit activities, according to Reuters. The regulatory push coincides with the broader growth of São Paulo's crypto ecosystem, with the city accounting for approximately 30% of Brazil's economic activity.