Stablecoins Spread Across Latin America, Boosting Dollar Use and Enabling Bitcoin Shift
The spread of dollar-backed stablecoins across Latin America is reinforcing the US dollar's influence in the region, according to Bloomberg. However, this infrastructure could also become a conduit for moving money into Bitcoin and gold.
Demand for dollar-pegged stablecoins is rising as users seek shelter from volatility in local currencies, with Chainalysis estimating that cryptocurrency transactions in Latin America totaled around $1.5 trillion between July 2022 and June 2025.
At crypto exchange Bitso, dollar-linked stablecoins accounted for 40% of all crypto purchases in 2025, more than twice the share of Bitcoin. From July 2024 through June 2025, stablecoins made up over half of crypto purchases made with Argentine pesos, Colombian pesos, and Brazilian reais.