Crypto Transaction Volume in Latin America Surpasses $27 Billion

Transaction volume processed through Latin American crypto exchanges increased ninefold between 2021 and 2024, reaching $27 billion. More than 90% of this activity was driven by USDT and USDC.

Data from analytics platform Dune indicates that cryptocurrencies have firmly established themselves as financial tools for daily payments, remittances, and savings in Latin America. Centralized exchanges (CEXs), payment applications, and both global and local stablecoins play a key role in this process, ensuring integration with national economies.

In 2024, the crypto transaction volume on local exchanges reached $27 billion, a significant increase from $3 billion in 2021. The top three regional exchanges by annual transaction volume are:

1. Bitso — $25.2 billion.
2. Mercado Bitcoin — $915 million.
3. Lemon Cash — $870 million.

The primary payment infrastructure relies on the Ethereum blockchain, which accounted for approximately 75% of all transactions over the past four years, totaling roughly $45.5 billion. Tron ranks second with $12.5 billion, largely driven by USDT transfers, while Solana and Polygon occupy third and fourth place with $1.5 billion and $1.17 billion, respectively.

Stablecoins have become the foundation of the regional crypto economy. In July 2025, USDT and USDC comprised more than 90% of all crypto transactions. In Brazil, real-pegged stablecoins saw a surge, with transaction volume exceeding 5 billion reais (~$900 million), reflecting annual growth of more than 660%. In Mexico, peso-backed stablecoins MXNB and MXNE rapidly gained traction, with July transactions totaling approximately $34 million, compared to just ~$53,000 a year earlier.

On- and off-ramp infrastructure is also expanding. Platforms such as PayDece, ZKP2P, and Capa processed nearly $60 million, enabling direct integration of crypto with national payment systems, including Brazil’s Pix.

Simultaneously, neobank applications are developing:

• Picnic processes over 45,000 payments per week;
• Exa App facilitated more than $5 million in transactions via Visa cards;
• BlindPay reached $93 million in cumulative volume, reducing international transfer costs from 1.5% to 0.1% and cutting settlement times from three days to seconds.

Experts emphasize that Latin America has become a prime example of mass crypto adoption, as digital assets address real-world needs for both users and businesses. However, the report notes that the region requires technological and regulatory hubs to scale these solutions and expand into global markets.

In spring 2025, Latin American countries experienced a sharp rise in the use of digital payments. A year earlier, Mastercard analysts reported that around 43% of all remittances in the LATAM region were processed using cryptocurrencies.

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