USDT Stablecoin Surpasses Bitcoin in Latin America

USDT stablecoin is now more popular than Bitcoin in Latin America, accounting for over 40% of all crypto trades. This dominance has led local central banks to consider issuing Central Bank Digital Currencies (CBDCs). The data from Kaiko, a blockchain analytics firm, shows that stablecoin-to-fiat trading pairs account for over 60% of the top 10 trade volume in the region. XRP has also surpassed Bitcoin in popularity, primarily due to its partnership with the Bitso crypto exchange. While Binance still dominates the market in terms of turnover, particularly in stablecoin trades, Mercado Bitcoin, Brazil's largest crypto exchange, has seen its trade volume more than double in 2024, driven by activity in both Bitcoin and altcoins. This indicates a potential shift in the market.