Latin America has become fertile ground for stablecoins, which have established themselves as one of the main financial pillars of the region’s crypto economy, according to the latest report from the data platform Dune. The report, titled Latam Crypto 2025, highlights the high adoption rate and transaction volume of stablecoins, showing that Latin America is not only accepting them but actively using them.

---

Stablecoins as a Pillar of Financial Transactions

The Dune report, which analyzes exchanges and projects aimed at Latin American users, reveals that stablecoins generated a transaction volume of over $50 billion between January 2021 and July 2025. Among them, USDT ($32.4 billion) dominates, nearly doubling the volume of USDC ($18.36 billion).

Dune points out that the use of stablecoins is evolving, shifting from speculative trading to more practical applications.

“This evolution likely reflects a broader shift in the use cases driving exchange flows: from speculative trading of volatile assets toward practical applications such as payments, remittances, merchant account settlement, and substitution for dollar savings,” the report states.

Market Dominance and Preferred Chains

In July, 90% of transfer volume on exchanges consisted of USDC and USDT, clearly indicating their popularity. Overall, stablecoins accounted for 39% of all purchases in the region in 2024. In Argentina, that percentage is even higher—USDT and USDC made up 72% of all crypto purchases.

As for the blockchains used, Ethereum remains the main network for transaction settlement. Tron has taken on a dominant role in low-cost stablecoin transfers, while Polygon has carved out a niche for payment flows.

---

Dune’s findings confirm what regional exchanges like Bitso have been claiming for years: the growing adoption of stable assets is a result of the increase in their real-world, practical applications.