Thinking about expanding into Brazil? First, understand your customer. 🇧🇷 Many Web3 projects fail in Brazil not because the product is weak, but because of a fundamental ICP (Ideal Customer Profile) mistake.
This chart (source: IBGE) reflects the real structure of the Brazilian population. Below is a practical breakdown of who can — and who cannot — be your customer. — ❌ Bolsa Família — 22.72% (48.6M people) This group survives on government aid. • No disposable income • No investing capacity • Very low likelihood of DeFi/staking/trading behavior Conclusion: Not your customer. Budget here is usually wasted. — ⚠️ Informal Workers — 18.14% (38.8M people) Unstable income and low predictability. • May use crypto for payments/transfers • Rarely consistent investors Conclusion: Possible “users”, but weak long-term investors. — ⚠️ INSS Beneficiaries — 15.99% (34.2M people) This group varies a lot. • Low-income retirees: low conversion potential • Asset-owning retirees / conservative investors: strong potential Conclusion: Partial ICP, especially for RWA, stablecoins and predictable yield. — ⚠️ Others — 10.61% (22.7M people) A broad category that requires deeper segmentation. Conclusion: Only viable with strong targeting and clear filters. — ⚠️ Public Servants — 6.03% (12.9M people) Stable income, but typically conservative. • Higher demand for credibility, compliance and trust • Lower tolerance for high-risk narratives Conclusion: Great fit for RWA/stablecoins/low-risk products. Not ideal for memecoins. — ❌ Unemployed + NEET + Discouraged Workers — ~6% (13M+ people) No active income and low investment capacity. Conclusion: Not ICP. Low conversion. — ✅ Formal Employees (CLT) — 18.32% (39.6M people) This is the core opportunity 💰 • Predictable income • Banked + financially active • Already investing or willing to invest Conclusion: Primary ICP for crypto projects entering Brazil (best conversion/retention).
