Stablecoin adoption is growing in Latin America as users increasingly turn to USDC and USDT for financial stability, as reported by Bitso. In 2024, USDC and USDt accounted for 39% of total purchases on Bitso, reflecting a 9% increase in stablecoin adoption compared to 2023. The report cites challenging macroeconomic conditions, such as high inflation and currency devaluations, as driving factors for this trend, positioning stablecoins as reliable stores of value. USDC led the market, while Bitcoin's share of trading volume decreased significantly, from 38% in late 2023 to 22% in 2024. Notably, Argentina emerged as a strong market for USDT, with 50% of crypto purchases made in this stablecoin, while Bitcoin purchases were lower at 8%. Brazilian and Mexican users still favored Bitcoin, purchasing it at 25% and 22%, respectively. This shift underscores a broader trend towards stablecoin utilization in a volatile economic landscape.

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