Stablecoins Top Bitcoin in Latin America, Bitso Says

Bitso reported that in 2025 stablecoins represented 40% of cryptocurrency purchases in Latin America, while Bitcoin accounted for 18%. The figures come from transaction data on Bitso’s exchange and cover nearly 10 million retail users.

The exchange described the pattern as “digital dollarization” in countries facing persistent inflation, local currency depreciation and limited access to traditional banking. Users are converting local currency into US dollar–linked stablecoins such as Tether’s USDT and Circle’s USDC to hold value in dollar terms and to make payments.

Stablecoins are being used to preserve savings when local currencies weaken, to make domestic and cross-border payments, and to send remittances.

The global market for stablecoins is about $320 billion. The report notes rising use of locally issued stablecoins. Brazilian retailer Mercado Libre launched a cross-border remittance product that uses its Meli dollar stablecoin for customers in Brazil, Mexico and Chile after it stopped issuing Mercado Coin.

Bitcoin remains the most common long-term holding in regional crypto portfolios. The report found Bitcoin in 52% of portfolios across Latin America in 2025, down from 53% in 2024. The report states: “Bitcoin continues to function as Latin America’s primary long-term digital store of value.”

The report characterizes stablecoins as payment rails and savings tools where access to US dollars is limited, while Bitcoin continues to be held for longer-term savings.