Digital asset adoption in Latin America is shifting. More users now convert funds into stablecoins than into Bitcoin. This change reflects growing pressure from local economic conditions. Bitso’s 2025 report on crypto adoption in the region shows that 40% of crypto purchases in 2025 were US dollar-linked stablecoins like Tether’s USDt and Circle’s USDC. Bitcoin accounted for 18%. It’s the first time stablecoin purchases have surpassed Bitcoin there. The findings come from Bitso’s nearly 10 million retail users across its exchange platform.
Digital dollarization takes hold
The trend points to what Bitso calls digital dollarization. In countries facing persistent inflation, currency depreciation, and limited access to traditional banking, stablecoins offer a relatively accessible way to store value and transact in US dollar equivalents. The US dollar itself isn’t immune to inflation, but it tends to depreciate more slowly than many local currencies. It remains the world’s dominant medium of exchange. That makes it an attractive benchmark for users seeking stability.
The global stablecoin market has grown to roughly $320 billion. Adoption is expanding across both developed and emerging economies. In Latin America, the appeal is practical. Users rely on stablecoins for preserving savings, making payments, and sending cross-border remittances.
Use of home-grown stablecoins is also benefiting. Brazilian retail giant Mercado Libre launched a cross-border remittance product in early April using the Meli dollar stablecoin for users in Brazil, Mexico, and Chile. This came after the retailer discontinued issuing its own stablecoin, Mercado Coin, earlier this year.
Bitcoin remains a store of value
While Bitcoin purchases have declined as a share of total activity, the Bitso report shows the asset still plays a central role as a long-term savings vehicle. Bitcoin continues to function as Latin America’s primary long-term digital store of value. It’s held in 52% of crypto portfolios across the region in 2025, down only slightly from 53% the previous year.
Bitcoin has long been viewed as a store of value, despite periods of volatility and uneven performance compared with past market cycles. The asset rose above $126,000 in October before pulling back sharply. Prices later traded in the low $60,000 range.
Recent research by index maker MarketVector reframes the store-of-value narrative beyond price performance alone. It argues that Bitcoin and gold share core traits, including scarcity, decentralization, and resistance to supply expansion. These underpin their long-term value.
