On the global cryptocurrency stage, Latin America is becoming a unique highlight. There is no crazy speculative hype here; instead, stablecoins are being practically applied in daily payments, cross-border remittances, and value preservation of savings.

According to the "2025 Stablecoin Status Report" released by Fireblocks, 71% of respondents in the Latin American region use stablecoins for cross-border payments, and 100% of enterprises have launched, are testing, or preparing stablecoin strategies. Stablecoins have become digital equivalents to the US dollar, serving as both accessible inflation hedging tools and effective means to bypass capital controls.

Overview of Stablecoin Ecosystem in Latin America

The stablecoin market in Latin America is experiencing unprecedented explosive growth, driven by both localized ecosystems and cross-border transaction demands. The trading volume of the Brazilian Real stablecoin surpassed $900 million in July, while the annual growth of the Mexican Peso stablecoin reached an astonishing 638 times.

The demand for stablecoins in the Latin American region has surpassed speculative attributes, becoming an important tool for millions to cope with currency fluctuations and high cross-border payments. In countries such as Argentina, Brazil, and Colombia, stablecoins have surpassed Bitcoin to become the preferred cryptocurrency for everyday use.

This trend is mainly attributed to its price stability and the characteristic of being directly pegged to the value of the US dollar. In the transfer volume on exchanges, USDC and USDT account for over 90%.

Brazilian Real Stablecoin Project

Brazil has the most diverse and mature domestic stablecoin ecosystem. As of June 2025, five different stablecoins pegged to the Brazilian real are actively circulating.

• BRZ: Issued by the fintech company Transfero, it provides blockchain infrastructure solutions for banks and payment institutions in the Latin American region.
• cREAL: by Celo The public chain issuance focuses on a mobile-first DeFi integration solution, creating early appeal in the retail and small payment sectors.
• BRLA: Developed by BRLA Digital and Avenia, focusing on compliant fiat as a bridge service for cryptocurrencies, it ranks first in the "unique remittance users" metric and has the widest retail user coverage.
• BRL1: Supported by the exchange alliance of Mercado Bitcoin, Bitso, Foxbit, etc., dedicated to establishing industry-wide standards.
• BBRL: Issued by the Braza Group, positioned to serve regional trade and payment scenarios. In July 2025, BBRL made a strong entry, with the monthly native transfer volume share soaring to about 65%.

Mexican Peso stablecoin landscape

The Mexican Peso stablecoin market is mainly shaped around two projects: MXNB and MXNe, which have developed in completely different trajectories.

MXNB was launched by Juno and Bitso, and its circulation model has evolved from sporadic peaks of large-scale issuance at the end of 2024 to a more stable and widespread circulation pattern since 2025.

In July 2025, MXNB completed 179 transfers involving 70 independent senders, a surge of 339% and 290% compared to the same period last year.

MXNB has shifted from large transfers to small payments, with the average transaction amount decreasing from approximately 28,700 Mexican pesos in July 2024 to 3,600 Mexican pesos. Currently, about 94% of MXNB transfers occur on the Arbitrum network.

MXNe is issued by Brale and operates exclusively on the Base chain, having developed into the largest trading Mexican peso-pegged stablecoin.

In July 2025, MXNe recorded a historical high of approximately 637.7 million Mexican pesos from 2,148 transfers by 158 senders, with the average transaction size climbing to nearly 297,000 pesos, indicating the possibility of large transactions and institutional operations.

Stablecoin Applications and Practices

The application scenarios of stablecoins in Latin America go far beyond speculation; across the region, stablecoins serve as savings tools, payment channels, cross-border remittance channels, and inflation hedging instruments.

In the enterprise sector, B2B payments lead the market, with companies making payments to overseas suppliers or employees via stablecoin, and then completing local settlements using the domestic PIX system.

In the scenario of cross-border capital inflows, the US dollar is converted into Brazilian real stablecoin for domestic payments. These stablecoins are becoming a key infrastructure in Brazil’s tokenized asset ecosystem, enabling on-chain settlement without the need for bank custody.

In the gig economy and small to medium-sized enterprises, stablecoins support payroll, risk hedging, and capital protection functions. Merchant integration solutions like CloudWalk’s BRLC and Mercado Pago’s dollar stablecoin are driving mainstream market adoption.

Market data and growth trends

The Latin American stablecoin market is showing explosive growth. In July 2025, USDT and USDC accounted for over 90% of the total transfer volume across all exchanges, significantly up from about 60% in 2022.

Brazil is leading in both the active number of local stablecoins and overall trading volume. As of July 2025, the trading volume of the Brazilian real stablecoin has reached 906 million USD, almost matching the total amount of 910 million USD for the entire year of 2024.

Based on the current growth rate, the annual trading volume is expected to reach approximately 1.5 billion USD. The Mexican peso-pegged stablecoin (MXNB + MXNe) is projected to have a total market value of about 34 million USD by July 2025, achieving an annual growth of approximately 638 times compared to 1 million pesos (about 53,000 USD) in July 2024.

Industry Conferences and Future Outlook

From August 27 to 28, 2025, Mexico City hosted the first large stablecoin conference in Latin America, gathering over a thousand industry experts from around the world.

The conference is hosted by Bitso Business, the B2B division of the largest cryptocurrency exchange in Latin America. The company has processed over $12 billion/year in cross-border payments through stablecoin infrastructure, connecting global businesses with the Latin American market.

The conference attracted heavyweight participants from traditional finance and the crypto space, including traditional financial giants such as Visa, PayPal, and Citibank, stablecoin infrastructure providers like Circle and Tether, blockchain networks such as Solana, Arbitrum, and Polygon Labs, as well as cryptocurrency exchanges like Binance and Kraken.

Looking ahead, the stablecoin market in Latin America will continue to maintain a rapid growth trend, with localized stablecoin projects further thriving, forming complementary advantages with USD stablecoins.

With the clarification of regulatory frameworks and the continuous maturation of technology, stablecoins are expected to build a more inclusive and efficient financial system for 650 million residents in Latin America.

Future Outlook

The localized stablecoin ecosystems led by Brazil and Mexico are changing the financial landscape of Latin America. The monthly trading volume of the Brazilian Real stablecoin has exceeded 900 million USD, while the Mexican Peso stablecoin has achieved a 638-fold annual growth.

The cross-border payment revolution is happening. Stablecoins bridge traditional finance, allowing Brazilian companies to pay overseas suppliers, and then complete local settlements through the PIX system, reducing the entire process from 3 days to 3 minutes.

The future of the stablecoin ecosystem in Latin America lies in deeply integrating into the veins of the everyday economy. From daily shopping to corporate trade, from salary payments to cross-border remittances, these digital tokens anchored to fiat currency are quietly reshaping the financial landscape of Latin America, providing millions of users with a more stable, efficient, and inclusive financial experience.