Brazil Dominates Latin American Crypto Market with $318.8 Billion in Transactions
Brazil has solidified its position as the leading crypto market in Latin America, driven by a combination of pragmatic financial decisions, clear regulatory frameworks, and the widespread adoption of stablecoins. A recent report indicates that Brazil accounts for approximately one-third of all crypto transactions in the region.
Brazil's Crypto Transaction Volume Soars
Between July 2024 and June 2025, Brazilian users received an estimated $318.8 billion in digital assets, according to a Chainalysis report. This figure represents a significant portion of the nearly $1.5 trillion in crypto transaction volume across Latin America during the same period.
Monthly trading activity in the region has surged, climbing from $20.8 billion in mid-2022 to a peak of $87.7 billion in December 2024, demonstrating the increasing interest and adoption of cryptocurrencies.
The Rise of Stablecoins in Brazil
Stablecoins, such as USDT and USDC, are central to Brazil's crypto dominance. Officials estimate that over 90% of the country’s crypto transaction volume involves these digital assets, which are widely used for remittances, merchant payments, payroll processing, and cross-border settlements. In a nation historically plagued by inflation and currency volatility, stablecoins provide a much-needed financial anchor.
Institutional transactions in Brazil have more than doubled year-on-year, according to Chainalysis. Retail activity also remains robust. Major financial institutions, including Itaú Unibanco, Mercado Pago, and Nubank, are integrating crypto into their platforms, bridging the gap between traditional finance and digital assets.
Latin American Crypto Market Overview
While Brazil leads the way with $318.8 billion in crypto activity, other countries in the region are also showing significant growth. Argentina followed with $93.9 billion, likely fueled by soaring inflation. Mexico ($71.2 billion), Venezuela ($44.6 billion), and Colombia ($44.2 billion) rounded out the top five.
- Peru ($28 billion) and Chile ($23.8 billion) are experiencing rapid growth, driven by remittance flows and DeFi experimentation.
- Despite being a pioneer in Bitcoin adoption, El Salvador contributed a relatively modest $3.5 billion in activity.
Centralized Exchanges Dominate in Latin America
Across Latin America, 64% of crypto activity takes place on centralized exchanges (CEXs). This preference is higher than in North America or Europe and reflects regional conditions. CEXs offer easier access to crypto, facilitate fiat conversions, and enable cross-border remittances.
Local exchanges like Mercado Bitcoin, Foxbit, and BitPreço have solidified Brazil's leading position by ensuring regulated and secure access to crypto markets while working within the local banking infrastructure.
