Latin America is witnessing a transformative surge in cryptocurrency adoption, with stablecoins like USDT and USDC at the forefront. According to a Dune report, the region's crypto flow grew by an astounding 800%, driven by the practical use of dollar-denominated stablecoins for daily financial needs, cross-border payments, and inflation protection. As of July 2025, stablecoins accounted for over 90% of transfer volume on exchanges, up from approximately 60% in 2022, with Argentina seeing 72% of crypto purchases in stablecoins versus only 8% for Bitcoin.
In Venezuela, Rodolfo Gasparri, president of Conexus and architect of the Pago Móvil system, is developing a regulated banking network to enable deposits and transactions using USDT and USDC. This initiative, which formalizes the circulation of Bitcoin and stablecoins under clear rules, aims to integrate digital assets into the traditional financial system with regulated custody and supervision. Gasparri emphasized that stablecoin use is common among Venezuelans for capital protection against local currency volatility, with about 40% of payments already made through mobile systems. The project, in active development without a defined implementation date, follows international trends like BBVA in Spain allowing USDT operations and Swift network updates for crypto processing.
Meanwhile, in Bolivia, the cryptocurrency exchange El Dorado has integrated QR code payments to streamline peer-to-peer transactions. CEO Guillermo Goncalvez explained that this feature reduces friction by allowing users to upload and reuse QR codes from banks or wallets, enhancing security and speed. Currently exclusive to Bolivia, it may expand regionally, coinciding with expectations of a more open regulatory environment under new President Rodrigo Paz Pereira.
Centralized exchanges (CEXs) serve as the primary gateway in Latin America, handling 68.7% of digital asset volume in 2024. Binance leads with a 54% market share, and flows through CEXs grew from $3 billion in 2021 to $27 billion in 2024. Local currency stablecoins, such as those pegged to the Brazilian Real and Mexican Peso, are also gaining traction, with BRL-linked volumes surging from $20.9 million in 2021 to nearly $900 million in July 2025. The region leads in digital payments, with 62% of banked consumers using mobile solutions versus 41% in Europe, driven by technologies like SoftPOS.
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