As inflation bites, Latin America banks on stablecoins instead of bankers

Latin Americans are using stablecoins and crypto to combat inflation and access banking services where traditional systems have failed, according to the co-CEO of Bybit LATAM.

The Latin American region is tapping into blockchain-based services for payments and access to financial services, signaling that the crypto industry serves more than just financial speculators chasing the next memecoin pump.

Latin American citizens are increasingly using cryptocurrency to replace the region’s inadequate banking infrastructure, allowing them to facilitate digital payments and create stablecoin-based savings accounts.

“LATAM adoption is quite high. People are using stablecoins for daily life, so it’s a whole different market,” said Patricio Mesri, co-CEO of cryptocurrency exchange Bybit’s Latin American division. “Crypto is actually changing the lives of people. You see adoption in Argentina, Venezuela, Bolivia and Mexico increasing rapidly,” he told Cointelegraph during an interview at the European Blockchain Convention 2025 in Barcelona.

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