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

Latin American countries are increasingly adopting blockchain-based services, particularly stablecoins like USDC and USDT, as a hedge against soaring inflation, which has surpassed 100% in places like Argentina. This shift is driven by the need for stable savings vehicles and more efficient digital payments, bypassing high remittance fees associated with systems like SWIFT. Patricio Mesri of Bybit noted that adoption is high in countries like Argentina, Venezuela, Bolivia, and Mexico, where crypto is changing daily lives. Beyond payments, blockchain instruments like real-world asset (RWA) tokenization are being explored to improve liquidity latency, reduce capital issuance costs, and expand investor access to Latin American capital markets, according to Bitfinex Securities.

(Source：Cointelegraph)