Brazil Central Bank Holds Benchmark Rate at 13.75%

The hold itself is unremarkable, but the signal is that Brazilian policymakers see no urgency to move in either direction, keeping one of the world's highest real policy rates in place. For crypto and RWA markets, that matters because a sustained 13.75% Selic sets a steep local hurdle for any yield-bearing digital asset or tokenized instrument aimed at Brazilian capital. Whether local demand for on-chain yield can compete with a double-digit risk-free rate is the open question, and any shift in the stance would be the next thing to watch.