Stablecoin adoption in Latin America is rising as more users turn to USDC and Tether’s USDT for financial stability, according to a new report from the cryptocurrency exchange bass.
The USDC (USDC) and USDT (USDT) Stablecoins became a “value store” in Latin America, which cost 39% of the total purchase in the Bass in 2024, the company said in the third edition of the Latin America Crypto Landscape report Issued On March 12.
The report has highlights a significant increase in stablecoin adoption on the platform, with a total stablecoin purchase that falls 9% from 2023.
“In Latin America, the challenging macroeconomic conditions, characterized by high inflation and monetary appreciation, has increased the increase in cryptocurrency adoption – especially stablecoins – as a reliable value store,” Bassya said in the report.
USDC led the race, Bitcoin follows
While stablecoin purchases have grown, the bitcoin (Btc) Saw a well -known decline in the mass trade volume in 2024, with its sharing drops to 22% from 38% in the second half of 2023.
According to Bass, the denial of BTC purchases in Latin America indicates the growing trend of He will go to strategyindicating the purchase and handling of cryptocurrency to earn from long -term values.
Falling BTC purchases aligned with the Bull Market of 2024, including The bitcoin rallying past $ 100,000 In the first time history in December.
Top 10 Crypto assets purchased in the Biece by sharing in 2024. Source:
As the bass users held in Bitcoin purchases in 2024, the purchase activity switched on to stablecoins such as the USDC and USDT, with the former leading career at 24%.
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USDT purchases cost 15% of the total cryptocurrencies obtained in the Bass in 2024.
Argentina is the leading USDT market with a 50% part
A more detailed review of geographic preferences in Latin American countries has shown a massive trend for USDT use in Argentina, known for this High adoption of stablecoin due to inflation rates of over 100%.
According to the report, Argentina’s Bass users often favored USDT and USDC purchases in 2024, worth 50% and 22% of all crypto purchases in the country, respectively.
Top 10 Crypto assets were purchased at the Bass in Argentina, Brazil, Colombia and Mexico. Source: Bights
On the other hand, part of Bitcoin’s purchases in Argentina only cost 8% of crypto purchases last year in the Biece, the lowest part of other reviewed countries.
Brazilian and Mexican Bass users continued in favor of Bitcoin as the most purchased crypto asset last year, including BTC percent purchase of 22% and 25%, respectively.
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