Brazil is one of the nations which has a lot of USA sanctions. And US and other western nations devours like they devoured them in the empire times. Lot of rules and regulation on them. And they have sanctions which take forever to get lifted. So they are moving away from USD to BRICS. And it has helped them adopt crypto in the meantime. 

In the crypto sphere they have variety of the projects including their PIX payment system which is like UPI of India and it meant for the local payments accepting digitally instead of cash. It is successful on the adoption and usage side. 

Balancer one of the AMM on the Ethereum is also on the Brazil's ecosystem and it has most of the payments and the financial changes through this app. On the surface it may not feel much but AMM like these are powerful. 

Distrio and the Bamba labs are also expanding the builders on the blockchain and making some community aspects of the crypto builders to come to a physical location, unite and build and make ecosystem better. For example they have such events offline. 

IPOrange ventures and the monashees are the type of VCs active on the Brazil's crypto and the blockchain project scene. So that kind of adds up on the growth too. A lot of people are not even aware of them as they are investors and often you got to dig a lot to understand the ecosystem. 

It goes even deeper as the Universities are now making the knowledge hubs in their courses and the research areas. Which you can even check out with the UNB chain and other places like these.