Stablecoin purchases in Latin America surpass Bitcoin for first time

The share of stablecoin purchases in Latin America has surpassed that of Bitcoin for the first time, Cointelegraph reported, citing a report from local exchange Bitso. The report noted that last year, dollar-pegged stablecoins like USDT and USDC accounted for 40% of all cryptocurrency purchases, while Bitcoin made up just 18%. This trend is attributed to users increasingly choosing stablecoins for asset preservation and payments amid hyperinflation and currency devaluation.