Polygon Processes $309M in Latin America Stablecoin Volume in May

Polygon processed $309 million in stablecoin volume across Latin America in May, according to Sandeep Nailwal, co-founder and CEO of the Polygon Foundation. Nailwal stated that Polygon surpassed all other blockchain networks in the region during May, capturing over half of active wallets. The volume surge reflects broader adoption of non-dollar stablecoins in emerging markets, where stablecoin volumes have increased 16x over 3 years across all chains.

Polygon Processes $309 Million in Latin America Stablecoin Volume in May

Sandeep Nailwal disclosed that Polygon registered $309 million in stablecoin volumes in Latin America in May, leading all other chains in the region. He stated that Polygon held over half of the active wallets in the region during this period.

Nailwal noted that non-dollar stablecoin volumes across all chains increased 16x in 3 years, while holders rose 30x. He stated that BRLA and COPM both ranked in the top 3 stablecoins on Polygon, hitting a new monthly high in May.

BRLA is a Brazilian real stablecoin with a market capitalization of over $3.2 million, connected to the Pix payment system. COPM is a Colombian peso-pegged stablecoin.

Non-Dollar Stablecoin Supply Reaches $1.2 Billion According to Visa Report

A Visa-commissioned report issued in May found that the total supply of non-dollar stablecoins reached $1.2 billion. The report stated that monthly transfers registered $10 billion.

Nailwal stated that emerging market stablecoins are growing on Polygon, noting that dollar stablecoins currently receive most headlines but the emerging market story is only beginning.

BRLA and COPM Lead Regional Stablecoin Adoption

BRLA reached a market capitalization of over $3.2 million. The stablecoin is fully collateralized and connected to Brazil's Pix payment system.

COPM functions as a Colombian peso-pegged stablecoin. Both tokens ranked in the top 3 stablecoins on Polygon in May, according to Nailwal.

FAQ

What stablecoin volume did Polygon process in Latin America in May?

Polygon processed $309 million in stablecoin volume across Latin America in May, according to Sandeep Nailwal, co-founder and CEO of the Polygon Foundation. Nailwal stated that Polygon surpassed all other blockchain networks in the region during this period.

What is the total supply of non-dollar stablecoins according to the Visa report?

A Visa-commissioned report issued in May found that the total supply of non-dollar stablecoins reached $1.2 billion, with monthly transfers registering $10 billion.

What is BRLA's market capitalization?

BRLA, a Brazilian real stablecoin, has a market capitalization of over $3.2 million. The stablecoin is fully collateralized and connected to Brazil's Pix payment system.