The cryptocurrency market in Latin America (LATAM) has seen remarkable growth, with exchange volumes soaring to $27 billion by 2024, a ninefold increase since 2021, according to Coinomedia. This surge is primarily driven by stablecoins and blockchain networks such as Ethereum, Tron, Solana, and Polygon, which offer efficient and low-cost transactions. In July 2025, stablecoins accounted for over 90% of the trading volume, with Tether (USDT) and USD Coin (USDC) leading the charge. Notably, BRL-pegged stablecoins experienced a 660% year-over-year increase, while MXN-pegged tokens grew by an extraordinary 1,100x. The growing adoption of local stablecoins highlights a trend towards using cryptocurrencies for real-world payments and remittances, addressing financial challenges in countries like Brazil and Mexico.