In a notable shift across Latin America, stablecoins have overtaken Bitcoin in transaction volume for the first time, according to Bitso’s latest report. The exchange’s data reveals that dollar-pegged tokens like Tether’s USDt and Circle’s USDC made up 40% of all crypto purchases on its platform in 2025, while Bitcoin trailed at 18%. This milestone underscores a growing preference for digital dollarization among users in economies plagued by high inflation and limited banking access.
Nearly 10 million retail customers drove this trend, turning to stablecoins for storing value, making payments, and facilitating cross-border remittances. The appeal lies in the U.S. dollar’s relative stability compared to local currencies, even amid global inflation concerns. Bitso’s report highlights that despite Bitcoin’s reduced purchase share, it remains a cornerstone in portfolios—appearing in 52% of holdings in 2025, down slightly from 53% the year prior. The exchange still views Bitcoin as the region’s primary long-term store of value, even as short-term activity leans toward stablecoins.
The broader stablecoin market has swelled to around $320 billion, reflecting adoption across emerging and developed markets. Regional developments, such as Mercado Libre’s cross-border remittance service using its Meli dollar stablecoin, further illustrate the shift. While Bitcoin’s price has been volatile—peaking above $126,000 in October before dropping to the low $60,000s—its fixed supply and decentralized nature continue to position it alongside gold in long-term value preservation frameworks, as noted by MarketVector research.