In Latin America, more and more people are buying stablecoins instead of Bitcoin. This reflects local economic problems, including inflation, weakening national currencies and limited access to banking services.
According to Bitso’s report on crypto adoption in Latin America, 40% of all crypto asset purchases were dollar-backed stablecoins, including USDT and USDC. Bitcoin accounted for 18%. The report notes that this is the first time stablecoin purchases in the region have surpassed Bitcoin purchases.
Bitso’s findings are based on data from nearly 10 million retail users of the crypto exchange. The company believes the trend reflects a broader process of “digital dollarization.” In countries where people face high inflation, depreciation of national currencies and difficulties accessing traditional financial services, stablecoins are becoming a relatively simple way to store funds and make payments in dollar terms.
Although the US dollar itself is also subject to inflation, it usually depreciates more slowly than many local currencies. In addition, the dollar remains the world’s main settlement currency, so for users seeking stability, it serves as a clear benchmark.
The global stablecoin market has grown to roughly $320 billion. Their use is expanding in both developed and developing economies. For Latin America, the practical value of such assets is especially clear: users rely on stablecoins to preserve savings, make payments and send international transfers.
Against this backdrop, interest in local stablecoin projects is also growing. In early April, Brazilian retailer Mercado Libre launched a cross-border transfer product based on the Meli dollar stablecoin. The service is available to users in Brazil, Mexico and Chile. This came after the company had earlier stopped issuing its own stablecoin, Mercado Coin.
Bitcoin is still needed
Although Bitcoin’s share of purchases has declined, Bitso’s report shows that it still holds an important place in the crypto portfolios of Latin American users. The company notes that Bitcoin remains the region’s main long-term digital store of value.
According to the report, in 2025 Bitcoin is present in 52% of crypto portfolios among Latin American users. A year earlier, the figure was 53%, meaning the decline was minimal.
Bitcoin has long been viewed as a store of value, despite volatility and uneven performance compared with previous market cycles. In October, the asset rose above $126,000 before correcting sharply and later trading near the lower end of the $60,000 range.
A recent MarketVector study suggests looking at Bitcoin as a store of value not only through the lens of short-term price performance. Analysts note that Bitcoin and gold share common properties: limited supply, a decentralized nature and resistance to supply expansion. In their view, these qualities support the asset’s long-term value.
Latin America’s role in the crypto world
The Latin American market is important for cryptocurrencies because digital assets there often solve real everyday problems rather than being used only for speculation. The region includes many countries with high inflation, unstable national currencies and limited access to banking services. That is why people use cryptocurrencies, and especially stablecoins, to preserve savings, make payments, send international transfers and access dollar liquidity.
Latin America also shows how cryptocurrencies can work in the mass market. While in developed countries crypto is often seen as an investment asset, in Argentina, Brazil, Mexico, Venezuela and other countries it is becoming part of the financial infrastructure. That is why the region is important for exchanges, fintech companies and stablecoin issuers: it shows real demand for products that connect the crypto market with the everyday economy.
As a reminder, U.S. banks are seeking to slow the adoption of stablecoins.
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