New data from Bitso this week: digital dollars (USDC + USDT combined) just surpassed Bitcoin as the most-purchased crypto asset in Latin America. 40% versus 18%. Full report here.
In Argentina alone, USD-linked assets are 71% of purchases. This is monetary economics expressed through user behavior.
Bitso shows transaction peaks in the days right after monthly salary payments. People are converting pesos to stablecoins because holding pesos costs them. I grew up in Argentina, I saw the same instinct play out with physical dollars. The behavior didn’t change, just the rails.
The dollarization spectrum is widening, not converging: Argentina at 71%, Brazil at 34%, Colombia in the middle at 46%, Mexico carving its own profile around remittance corridors. Each country’s crypto data is now a real-time read on its own monetary conditions, which is very cool. Crypto adoption in LATAM isn’t tied to the cycle anymore.
For the next generation it’s a baseline financial behavior. In some places, crypto wallets are replacing the role of bank accounts entirely. It will be fascinating to see what happens to the next generations’ crypto adoption.
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