Circle’s USDC stablecoin accounted for Latin America’s biggest share of crypto purchases on the major local exchange Bitso in 2024.
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.
The USDC (USDC) and USDt (USDT) stablecoins 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 issued on March 12.
The report highlighted a significant increase in stablecoin adoption on the platform, with total stablecoin purchases surging 9% from 2023.
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