- Latin America’s monthly crypto trading surpassed $3 billion as high inflation eroded trust in local national currencies.
- Bitcoin led regional trade at 25% volume; USDT-BRL pairs hit $5.9 billion, reflecting Brazil’s strong stablecoin use.
Monthly cryptocurrency trading volumes across Latin America passed $3 billion this year. This figure comes from market analysis firm Kaiko Research. Their data shows average monthly volumes reached $2.6 billion in 2024 before exceeding $3 billion more recently.
Two main factors drive this activity. First, high inflation damages national currencies in several countries. Argentina saw inflation exceed 220% in 2024. Venezuela previously experienced inflation reaching 65,000% in 2018. People in these economies increasingly hold cryptocurrencies. They view them as a more stable shelter for value compared to weakening local money.
Second, access to traditional banks remains limited. Kaiko notes roughly 45% of adults in Latin America lack standard financial services. Cryptocurrencies provide an alternative path. Trading platforms let unbanked individuals participate in global finance.
Bitcoin remains the most traded digital asset in the region
It accounted for a quarter of all transaction volume. The stablecoin USDT followed closely. Tether’s USDT saw substantial demand, especially in Brazil. Trading between USDT and the Brazilian Real (USDT-BRL) hit $5.9 billion. Overall, stablecoins like USDT made up 39% of all crypto assets acquired in Latin America. Their value link to the US dollar builds user trust.
Countries leading adoption include Mexico, Brazil, Argentina, and Colombia. Usage varies. Mexico employs Bitcoin and stablecoins for both payments and investment. Brazil shows strong overall growth. Argentina and Colombia primarily use crypto to guard against inflation.
Platforms such as Bitso and Mercado Bitcoin support this growth. They offer services using local currencies. These exchanges also simplify converting stablecoins like USDT into traditional money.
Furthermore, the large remittance market in Latin America uses Bitcoin and USDT. This shift aims for faster transfers and lower fees compared to older methods. Over 100 businesses now contribute to expanding stablecoin access across the region.
