Latin America established itself among the fastest-growing crypto markets globally. Transaction volumes are increasing, and the share of stablecoins is reaching record levels, simultaneously heightening the risks of illicit activity and tightening compliance requirements.
According to a TRM Labs study, the global volume of retail crypto transactions in 2025 grew by more than 125% compared to the same period in 2024. A significant portion of this growth came from Latin American countries, where demand for digital assets is driven by inflation, limited access to banking services, and the expansion of digital infrastructure.
Five countries in the region rank among the top 25 globally in terms of digital asset adoption:
- Brazil — 5th place;
- Venezuela — 11th place;
- Argentina — 18th place;
- Mexico — 19th place;
- Colombia — 22nd place.
According to a Chainalysis report, from July 2022 to June 2025, the volume of crypto transactions in Latin America totaled approximately $1.5 trillion. The region shows one of the highest growth rates in the world, around 63% YoY.
Stablecoins play a key role in the region’s ecosystem. Globally, they account for about 30% of all on-chain transactions, and in the first seven months of 2025 alone, stablecoin transaction volume exceeded $4 trillion, growing by 83% YoY. More than 90% of these assets are pegged to the U.S. dollar, with USDT and USDC controlling about 93% of the market. In Latin America, stablecoins serve as a foundational payment infrastructure.
According to TRM estimates, stablecoins account for nearly 95% of financial flows linked to sanctioned entities globally. In 2025, the total volume of illicit crypto transactions reached $158 billion. Within the region, stablecoins are used by criminal networks, including those connected to drug cartels, over-the-counter brokers, and international money laundering schemes.
Against this backdrop, several countries are tightening regulations:
- Brazil introduced a licensing regime for crypto service providers, including anti-money laundering requirements and transaction limits involving unauthorized counterparties.
- Mexico expanded financial monitoring rules and strengthened oversight of non-financial organizations.
- Argentina implemented new requirements for the registration and supervision of crypto service providers.
Particular attention is being paid to Venezuela, where cryptocurrencies became part of everyday transactions. Around 75% of digital asset operations, including peer-to-peer transfers and trades on P2P platforms, are conducted using stablecoins. At the same time, the country is considered one of the highest-risk jurisdictions in terms of sanctions evasion and shadow financial flows.
Experts note that the window for businesses to adapt to new requirements is rapidly shrinking. Companies operating with cryptocurrencies in the region are being forced to implement more advanced transaction monitoring systems and risk analysis at the individual wallet level, not just at the country level, to meet regulatory requirements and reduce exposure to illicit activities.
By 2025, stablecoins became a primary tool for savings protection, cross-border transfers, and business operations in Latin America. Meanwhile, transaction volumes through crypto exchanges in the region grew ninefold from 2021 to 2024, reaching $27 billion, with more than 90% of turnover attributed to USDT and USDC stablecoins.
