Stablecoins are the unlikely heroes of Latin America

-

Listen up, guys, in the wild west of crypto, stablecoins are becoming the go-to currencies in Latin America.

According to Bitso, a major exchange in the region, Circle’s USDC and Tether’s USDT are the new store of value for people looking to escape economic turmoil.

Stablecoins’ march

In 2024, these stablecoins accounted for 39% of all crypto purchases on Bitso, with USDC leading the pack at 24% and USDT following closely at 15%. Now, you might wonder why stablecoins are so hot right now.

Well, it’s simple, Latin America’s got some serious economic challenges, high inflation and currency devaluations are the norm.

People need something reliable, something that won’t lose value overnight. That’s where USDC and USDT come in. They’re like the safe houses in a neighborhood full of uncertainty.

stablecoin
Source: Bitso

Bitcoin for hodl, stablecoins for daily use

But what about Bitcoin, the king of crypto? Well, it’s not doing so great in Latin America. Its trading volume on Bitso dropped significantly in 2024, from 38% to 22%.

It seems people are adopting the hodl strategy, buying and holding onto Bitcoin for the long haul.

Meanwhile, stablecoins are where the action is. Argentina, for instance, is all about USDT, with 50% of crypto purchases being Tether’s stablecoin. That’s no surprise, given the country’s inflation rates are through the roof.

Reliability

Brazil and Mexico, on the other hand, are still Bitcoin fans, with BTC purchases making up 22% and 25% of their crypto buys, respectively.

Source: Bitso

But overall, stablecoins are the new darlings of Latin America’s crypto market. They’re not flashy, but they’re reliable, and in times of economic chaos, that’s exactly what people need.

So, if you’re looking for a safe bet in crypto, stablecoins might just be your ticket.

In the end, it’s all about stability in a world that’s anything but. Stablecoins are filling a gap that other cryptos can’t, and that’s why they’re thriving in Latin America.

Have you read it yet? Bitcoin takes a beating, so it’s Peter Schiff’s „I-told-you-so” moment

Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.

LATEST POSTS

Tether CEO throws shade on Bitcoin sell-off rumors

Tether CEO Paolo Ardoino just set the record straight, no, Tether ain’t selling off their Bitcoin stash to load up on gold, despite what that...

Federal Reserve’s Payment Innovation Conference will decide the future of money?

The Federal Reserve is rolling out the red carpet for a Payment Innovation Conference. The date is October 21. This event’s got a sharp eye...

Upbit Launches Ethereum Layer 2 Giwa Testnet With One-Second Blocks

Upbit, South Korea’s largest crypto exchange, confirmed the launch of Ethereum layer 2 Giwa on testnet at the Upbit D Conference 2025. The platform aims...

SEC Crypto Task Force Targets Surveillance and Privacy in October Roundtable

The US Securities and Exchange Commission (SEC) crypto task force will hold a public roundtable on October 17 in Washington, D.C. The discussion will focus...

Most Popular

Guest posts