Latin America's Crypto Market Surges to $87.7B in December 2024
Latin America's crypto market has witnessed a remarkable surge, with transaction volumes soaring from $20.8 billion in July 2022 to a record $87.7 billion in December 2024. Brazil, the region's powerhouse, accounts for nearly one-third of all LATAM crypto activity, receiving $318.8 billion in crypto value.
Centralized exchanges dominate the LATAM crypto landscape, with local platforms like Mercado Bitcoin and Bitso leading the charge, accounting for 64% of crypto activity. Over 90% of Brazilian crypto flows are now stablecoin-related, reflecting their crucial role in payments and cross-border transfers. Between July 2022 and June 2025, LATAM recorded nearly $1.5 trillion in cryptocurrency transaction volume, with Argentina ranking second at $93.9 billion, followed by Mexico, Venezuela, and Colombia.
Institutional engagement has been a vital driver of growth in Brazil. Traditional banks and neobanks, including Bank of America, have entered the crypto space, contributing to a 109.9% period-over-period growth in Brazil's crypto transaction volume. Stablecoin purchases make up over half of all exchange purchases in key LATAM countries, indicating their popularity for everyday use. The Brazilian Central Bank has been proactive in regulating the crypto industry, with concrete proposals expected by the end of 2025.
Latin America's crypto ecosystem shows no signs of slowing down, with institutional adoption and retail demand for stablecoins driving continued growth. As regulatory clarity emerges from the Brazilian Central Bank, the region can expect further expansion and innovation in its crypto market.
