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A Bitso report says crypto users in Latin America are increasingly choosing US dollar-linked stablecoins for everyday financial use, with stablecoin purchases surpassing Bitcoin for the first time in the region. The shift is attributed to persistent inflation, currency depreciation, and limited access to traditional banking in several countries.
Bitso’s 2025 report on crypto adoption in Latin America found that 40% of crypto purchases in 2025 were US dollar-linked stablecoins, including Tether’s USDt (USDT) and Circle’s USDC (USDC). Bitcoin accounted for 18% of purchases, marking the first time stablecoin buying has exceeded Bitcoin in the region.
The analysis is based on data from Bitso’s nearly 10 million retail users on its exchange platform.
The report describes a broader trend toward what the exchange calls “digital dollarization.” In inflation-hit economies, stablecoins can provide a more accessible way to store value and transact in US dollar equivalents. While the US dollar is not immune to inflation, it typically depreciates more slowly than many local currencies and remains the world’s dominant medium of exchange.
The global stablecoin market has grown to roughly $320 billion, with adoption expanding across both developed and emerging economies. In Latin America, stablecoins are used for preserving savings, making payments, and sending cross-border remittances.
Home-grown stablecoin offerings are also gaining traction. In early April, Mercado Libre launched a cross-border remittance product using the Meli dollar stablecoin for users in Brazil, Mexico, and Chile, according to Cointelegraph Brasil. The move followed the retailer’s decision to discontinue issuing its own stablecoin, Mercado Coin, earlier this year.
Despite a decline in its share of purchase activity, Bitcoin remains central to long-term savings in the region. Bitso’s report said Bitcoin is held in 52% of crypto portfolios across Latin America in 2025, down slightly from 53% the previous year.
The report also notes that Bitcoin’s store-of-value narrative has been supported by research emphasizing traits such as scarcity, decentralization, and resistance to supply expansion. It cited MarketVector’s work reframing the comparison between Bitcoin and gold beyond short-term price performance.
The article notes that Bitcoin rose above $126,000 in October before pulling back, with prices later trading in the low $60,000 range.
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