Stablecoins: The Undisputed Tsars of Latam’s Crypto Carnival 🎭💸

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Ah, the bustling lands of Latam! Where stablecoins reign supreme, strutting about like peacocks at a feast. According to Dune’s latest report, these digital darlings have nestled themselves comfortably into the region’s financial soul-becoming not just tools but outright heroes (or villains, depending on your perspective). Companies use them; users love them. Truly, they are everywhere, like that one uncle who insists on telling jokes no one laughs at during family gatherings.

Oh, how noble and mighty are the stablecoins in their conquest of Latam! Dune, a Web3 oracle of sorts, has issued its grand proclamation-the Latam Crypto 2025 Report. It declares, with all the gravitas of an overzealous town crier, that stablecoins now sit upon thrones of transactions, reigning over the crypto kingdom with high adoption rates and volumes so staggering they might make even Scrooge McDuck blush 😳.

Between January 2021 and July 2025, these coins moved over $50 billion in value-a sum so large it could buy every empanada ever made. And let us bow our heads before the undisputed champion of champions: USDT, which boasts a jaw-dropping $32.4 billion, leaving USDC ($18.36 billion) trailing behind like a younger sibling trying desperately to keep up. Poor USDC-it tried, it really did. But alas, some siblings are simply destined to shine brighter than others 💔.

In recent years, stablecoins have spread across Latam faster than gossip in a small village. They’ve pioneered trends worldwide, shifting from mere speculation to practical uses such as payments, remittances, merchant settlements, and other grown-up things that sound boring but are secretly revolutionary. As Dune itself so eloquently put it:

This evolution likely reflects a broader change in the use cases driving exchange flows: away from speculative trading of volatile assets, and toward practical applications such as payments, remittances, merchant settlement, and on/off-ramping for dollar savings.

Translation? Stablecoins aren’t here to clown around anymore-they mean business. In July alone, a whopping 90% of exchanges’ transfer volume involved USDC and USDT. Imagine hosting a party where only two guests show up-and yet those two manage to eat ALL the cake 🍰. That’s the level of dominance we’re talking about here.

And if you think this is impressive, brace yourself for Argentina. Oh, Argentina, land of tango and economic drama-you truly outdid yourself this time. Here, USDT and USDC accounted for a staggering 72% of all crypto purchases in 2024. Seventy-two percent! If that doesn’t scream “national obsession,” I don’t know what does.

But wait, dear reader, there’s more! For where do these majestic coins frolic and dance? On which blockchains do they perform their waltz of wealth? Fear not, for Dune has answered this burning question too. Ethereum remains king-a reliable old horse pulling the cart of settlement. Meanwhile, Tron prances about offering low-cost transfers, while Polygon quietly carves out its niche, whispering sweet nothings to payment-focused flows. What a merry band of misfits they make! 🎠

Finally, Dune’s findings align perfectly with what regional exchanges like Bitso have been saying for years. The rise of stable assets mirrors the rise of real-world applications-because apparently, people prefer using their cryptocurrencies for something useful rather than watching them fluctuate wildly like a soap opera plot twist 📉📈.

So there you have it, friends: the tale of stablecoins in Latam-a story of triumph, absurdity, and perhaps just a touch of chaos. Who knew finance could be so entertaining?

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2025-08-23 10:58