Inside LATAM’s Stablecoin Surge: Mapping the Payments Leaders

Stablecoins are not just a trend — they are a foundational layer for  the next evolution of financial infrastructure in Latin America. The most recent edition of the Crypto  Landscape in Latin America report presented by Bitso reveals that the stablecoins dominated  purchases in 2024, accounting for 39% of all digital assets acquired in the region. 

The rapid growth of stablecoin adoption in Latin America stems from a unique blend of economic  challenges and a swiftly evolving digital landscape. The region has indeed proven to be fertile ground  for the expansion of stablecoin payments due to several key factors: persistent high inflation and  currency volatility; its status as a major corridor for remittances, with millions sending money across  borders; a large population still unbanked or underserved by traditional financial institutions; and a  young, digitally native populace that readily embraces new technologies, especially mobile-first  solutions. 

The potential is even brighter for businesses. Latin American companies are increasingly adopting  stablecoins for more efficient cross-border transactions and treasury management. Meanwhile, global  institutions keen on expanding into the region are finding stablecoins a trusted, regulated, and efficient  way to enter the market. 

But as the local ecosystem expands at an unprecedented pace, understanding who is building what,  and where, has become increasingly difficult — and increasingly necessary. That’s why Bitso  Business joined forces with Utila, Minteo, BlindPay, and Chuk Okpalugo to create the first  comprehensive map of the stablecoin ecosystem in Latin America. This collaborative effort was  designed to bring more visibility to the builders, enablers, and use cases that are shaping the future of  payments, remittances, treasury management, trading, and financial access across the region.  

“LATAM represents the most compelling frontier for stablecoin adoption globally, and we’re proud to  lead this market mapping initiative alongside our partners. The ecosystem is growing fast but remains  fragmented, making it hard to get a clear picture of who’s actually building what. This map is our way  of contributing clarity and visibility. At Utila, we’ve made Latin America a strategic priority because the  region isn’t just adopting stablecoins, it’s helping define how the world will use them. And we’re all in  on powering that shift,” says Bentzi Rabi, Co-Founder & CEO, Utila. 

“The result is not just a visual — it’s a tool. A tool for startups to find partners. For investors to identify  opportunities. For regulators to better understand the market. And for the ecosystem to grow in a  more transparent, informed, and interconnected way”, says Ben Reid, Head of Stablecoins for Bitso  Business. 

“This map is a vital testament to the dynamic, holistic transformation stablecoins are igniting across  Latin America. We’re seeing an explosion of new use cases daily, from basic payments to complex  financial services. Unlocking these opportunities for the region requires deep, continuous ecosystem  collaboration”, says William Durán, Co-Founder at Minteo. 

This landscape is essential for everyone to see the potential of stablecoins in the market. BlindPay  has enabled global payments with stablecoins in several countries and has already demonstrated the  transformative potential of these assets to solve real problems in Latin America—from inflation to  international friction.says Bernardo Simonassi, CEO and founder of BlindPay. 

“From infrastructure providers and fintechs to exchanges and wallets, the LATAM market map helps  to shine light on the key players that are making stablecoin adoption real on the ground. It’s a useful  tool for the market to understand who is shaping the stablecoin ecosystem in Latin America, says  Chuk Okpalugo”.