TechFlow reports, on March 13, according to Cointelegraph, the latest Latin American cryptocurrency landscape report released by cryptocurrency exchange Bitso reveals that Circle's USDC and Tether's USDT stablecoins have become significant "stores of value" in the region, accounting for 39% of total purchase volume on the Bitso platform in 2024.
Among them, Argentine users show the strongest demand for stablecoins, with USDT and USDC making up 50% and 22% of the country's crypto purchase volume respectively, while Bitcoin accounts for only 8%. Bitso stated that macroeconomic challenges such as high inflation and currency depreciation across Latin America are driving increased adoption of stablecoins as reliable stores of value.
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