03-13-2025, 05:50 PM
USDC, USDt stablecoins are ‘store of value’ in Latin America — Bitso
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NThlOWEtMzI1OC03ZTRmLWJlZjktNmYzZGEwMzM4OGIx.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NThlOWEtMzI1OC03ZTRmLWJlZjktNmYzZGEwMzM4OGIx.jpg" alt="USDC, USDt stablecoins are ‘store of value’ in Latin America — Bitso"></p><p>Stablecoin adoption in Latin America is increasing as more users turn to Circle’s USDC and Tether’s USDT for financial stability, according to a new report from cryptocurrency exchange Bitso.<p>The USDC (<a data-ct-non-breakable="null" href="https://cointelegraph.com/usdc-price-index" rel="null" target="null" text="null" title="null">USDC</a>) and USDt (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="null" target="null" text="null" title="null">USDT</a>) <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work" rel="null" target="null" text="null" title="null">stablecoins</a> have become a “store of value” in Latin America, accounting for 39% of total purchases on Bitso in 2024, the firm said in its third edition of the Latin America Crypto Landscape report <a data-ct-non-breakable="null" href="https://blog.bitso.com/wp-content/uploads/2025/03/110325_FINAL-FINAL-INFORME_BITSO_ingles.pdf" rel="null" target="null" text="null" title="null">issued</a> on March 12.</p><p>The report highlighted a significant increase in stablecoin adoption on the platform, with total stablecoin purchases surging 9% from 2023.</p><p>“In Latin America, challenging macroeconomic conditions, characterized by high inflation and currency devaluations, drove increased cryptocurrency adoption — particularly stablecoins — as a reliable store of value,” Bitso stated in the report.</p><h2>USDC leads the race, Bitcoin follows</h2><p>While stablecoin purchases surged, Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) saw a notable decline in trading volume on Bitso in 2024, with its share dropping to 22% from 38% in the second half of 2023.</p><p>According to Bitso, the decline in BTC purchases in Latin America indicates the growing trend of the <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/how-to-be-a-better-hodler-explained" rel="null" target="null" text="null" title="null">hodl strategy</a>, which implies buying and holding the cryptocurrency to profit from its long-term value appreciation.</p><p>The drop in BTC purchases aligned with the bull market of 2024, with <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-hits-100-000-first-time-new-all-time-high" rel="null" target="null" text="null" title="null">Bitcoin rallying past $100,000</a> for the first time in history in December.</p><figure><img alt="Cryptocurrencies, Bitso, Circle, Latin America, Inflation, Tether, Stablecoin" src="https://s3.cointelegraph.com/uploads/2025-03/01958ed2-698e-7942-92b8-2a1212f741cd" title=""><figcaption style="text-align: center;"><p><em>Top 10 purchased crypto assets on Bitso by share in 2024. Source: Bitso</em></p></figcaption></figure><p>As Bitso users held off on Bitcoin purchases in 2024, buying activity switched to stablecoins like USDC and USDT, with the former leading the race at 24%.</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/brazil-unicorn-meliuz-bitcoin-treasury-strategy" rel="null" target="null" text="null" title="null"><em><strong>Brazil fintech unicorn Meliuz adopts Bitcoin treasury strategy</strong></em></a></p><p>USDT purchases accounted for 15% of total cryptocurrencies acquired on Bitso in 2024.</p><h2>Argentina is the top USDt market with a 50% share</h2><p>A more detailed analysis of geographical preferences among Latin American countries showed a massive trend for USDT use in Argentina, which is known for its <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/argentina-lead-crypto-adoption-americas" rel="null" target="null" text="null" title="null">high stablecoin adoption due to inflation rates surpassing 100%</a>.</p><p>According to the report, Bitso users in Argentina mostly favored purchases of USDT and USDC in 2024, accounting for 50% and 22% of all crypto purchases in the country, respectively.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-03/01958ed1-a4a9-7a4f-be4e-e432786b5f02" title="" alt="USDC, USDt stablecoins are ‘store of value’ in Latin America — Bitso"><figcaption style="text-align: center;"><p><em>Top 10 purchased crypto assets on Bitso in Argentina, Brazil, Colombia and Mexico. Source: Bitso</em></p></figcaption></figure><p>On the other hand, the share of Bitcoin purchases in Argentina accounted for just 8% of crypto purchases last year on Bitso, the lowest share among other analyzed countries.</p><p>Brazilian and Mexican Bitso users still continued to favor Bitcoin as the most purchased crypto asset last year, with the BTC buying percentages accounting for 22% and 25%, respectively.<br></p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-fans-obsessed-longevity-biohacking-why/" rel="null" target="null" text="null" title="null"><em><strong>Crypto fans are obsessed with longevity and biohacking: Here’s why</strong></em></a><br></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/usdc-usdt...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NThlOWEtMzI1OC03ZTRmLWJlZjktNmYzZGEwMzM4OGIx.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NThlOWEtMzI1OC03ZTRmLWJlZjktNmYzZGEwMzM4OGIx.jpg" alt="USDC, USDt stablecoins are ‘store of value’ in Latin America — Bitso"></p><p>Stablecoin adoption in Latin America is increasing as more users turn to Circle’s USDC and Tether’s USDT for financial stability, according to a new report from cryptocurrency exchange Bitso.<p>The USDC (<a data-ct-non-breakable="null" href="https://cointelegraph.com/usdc-price-index" rel="null" target="null" text="null" title="null">USDC</a>) and USDt (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="null" target="null" text="null" title="null">USDT</a>) <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work" rel="null" target="null" text="null" title="null">stablecoins</a> have become a “store of value” in Latin America, accounting for 39% of total purchases on Bitso in 2024, the firm said in its third edition of the Latin America Crypto Landscape report <a data-ct-non-breakable="null" href="https://blog.bitso.com/wp-content/uploads/2025/03/110325_FINAL-FINAL-INFORME_BITSO_ingles.pdf" rel="null" target="null" text="null" title="null">issued</a> on March 12.</p><p>The report highlighted a significant increase in stablecoin adoption on the platform, with total stablecoin purchases surging 9% from 2023.</p><p>“In Latin America, challenging macroeconomic conditions, characterized by high inflation and currency devaluations, drove increased cryptocurrency adoption — particularly stablecoins — as a reliable store of value,” Bitso stated in the report.</p><h2>USDC leads the race, Bitcoin follows</h2><p>While stablecoin purchases surged, Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) saw a notable decline in trading volume on Bitso in 2024, with its share dropping to 22% from 38% in the second half of 2023.</p><p>According to Bitso, the decline in BTC purchases in Latin America indicates the growing trend of the <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/how-to-be-a-better-hodler-explained" rel="null" target="null" text="null" title="null">hodl strategy</a>, which implies buying and holding the cryptocurrency to profit from its long-term value appreciation.</p><p>The drop in BTC purchases aligned with the bull market of 2024, with <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-hits-100-000-first-time-new-all-time-high" rel="null" target="null" text="null" title="null">Bitcoin rallying past $100,000</a> for the first time in history in December.</p><figure><img alt="Cryptocurrencies, Bitso, Circle, Latin America, Inflation, Tether, Stablecoin" src="https://s3.cointelegraph.com/uploads/2025-03/01958ed2-698e-7942-92b8-2a1212f741cd" title=""><figcaption style="text-align: center;"><p><em>Top 10 purchased crypto assets on Bitso by share in 2024. Source: Bitso</em></p></figcaption></figure><p>As Bitso users held off on Bitcoin purchases in 2024, buying activity switched to stablecoins like USDC and USDT, with the former leading the race at 24%.</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/brazil-unicorn-meliuz-bitcoin-treasury-strategy" rel="null" target="null" text="null" title="null"><em><strong>Brazil fintech unicorn Meliuz adopts Bitcoin treasury strategy</strong></em></a></p><p>USDT purchases accounted for 15% of total cryptocurrencies acquired on Bitso in 2024.</p><h2>Argentina is the top USDt market with a 50% share</h2><p>A more detailed analysis of geographical preferences among Latin American countries showed a massive trend for USDT use in Argentina, which is known for its <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/argentina-lead-crypto-adoption-americas" rel="null" target="null" text="null" title="null">high stablecoin adoption due to inflation rates surpassing 100%</a>.</p><p>According to the report, Bitso users in Argentina mostly favored purchases of USDT and USDC in 2024, accounting for 50% and 22% of all crypto purchases in the country, respectively.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-03/01958ed1-a4a9-7a4f-be4e-e432786b5f02" title="" alt="USDC, USDt stablecoins are ‘store of value’ in Latin America — Bitso"><figcaption style="text-align: center;"><p><em>Top 10 purchased crypto assets on Bitso in Argentina, Brazil, Colombia and Mexico. Source: Bitso</em></p></figcaption></figure><p>On the other hand, the share of Bitcoin purchases in Argentina accounted for just 8% of crypto purchases last year on Bitso, the lowest share among other analyzed countries.</p><p>Brazilian and Mexican Bitso users still continued to favor Bitcoin as the most purchased crypto asset last year, with the BTC buying percentages accounting for 22% and 25%, respectively.<br></p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-fans-obsessed-longevity-biohacking-why/" rel="null" target="null" text="null" title="null"><em><strong>Crypto fans are obsessed with longevity and biohacking: Here’s why</strong></em></a><br></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/usdc-usdt...er_inbound