Bitso, a leading Latin American cryptocurrency exchange based in Mexico, has announced the expansion of its B2B division, Bitso Business, into Peru and Chile. The expansion, revealed at the Stablecoin Conference Latin America 2025, will offer services including FXaaS (Foreign Exchange as a Service) and Pay with Bitso, enabling both cross-border and local payments. Pay with Bitso allows merchants to accept cryptocurrency payments from Bitso users while receiving instant settlement in either fiat currency or crypto.
Simultaneously, Bitso Business released its Stablecoins Landscape in Latin America (H1 2025) report, based on behavioral analysis from more than 1,300 institutional clients. The report reveals exponential growth in stablecoin adoption across the region, with stablecoins more than doubling their share of total volume transacted between the second half of 2024 and the first half of 2025. This growth reflects the maturation of institutional use cases, with businesses integrating stablecoins into treasury operations, FX hedging, and payments infrastructure.
The global stablecoin market has reached a capitalization of $230 billion in 2025, compared to less than $20 billion just five years earlier, according to the Bank for International Settlements. Daily trading volumes now place stablecoins at the top of the digital asset hierarchy, with USDT and USDC accounting for over 70% of global crypto activity.
Imran Ahmad, General Manager of Bitso Business, emphasized that stablecoins represent "not just a technology shift, but an opportunity to enable global businesses to access and operate in Latin markets with speed, transparency, and efficiency." Daniel Vogel, CEO and Co-Founder of Bitso, added that Latin America is not just observing this transformation but leading it, with many companies already trusting Bitso Business infrastructure for cross-border payments and stablecoin-based solutions.
The report shows significant diversification beyond initial use cases, with 68% growth among payment service providers and a 5.3x increase in the gaming industry. While remittances remain important, treasury, FX, and arbitration now represent 45% of stablecoin volumes at Bitso Business in H1 2025.
Regionally, Mexico remains the epicenter of stablecoin activity with 47% of volumes, but Brazil and Colombia are quickly emerging as major markets, each gaining 2 percentage points year-over-year. Argentina grew by 1 percentage point, while other markets including Chile and Peru show steady growth.