Local stablecoins in Latam are a case where the numbers are more interesting than the hype.
I compiled the weekly trading volumes for four coins from December through June - and the picture that emerges is quite different from what one might expect.
The Brazilian BRLA (@aveniaio) and BRZ (@transferogroup) clearly represent the mature end of the market. A steady $2.7–4m per week, no drama, the real just works.
The Mexican MXNB (@Bitso) is a different story: one week it’s $1m at its peak, the next it’s almost empty, a real roller coaster.
But the Argentine WARS (@RipioApp) - the smallest in absolute terms, is precisely what makes this segment worth watching. From ~$5k at the start to ~$64k - that’s exponential growth, not just percentage gains.
And it makes sense: where the local currency is in free fall, demand for a digital equivalent grows the fastest.
There’s no need to romanticize it, the market is still thin, liquidity is patchy, and a single major player can easily skew the chart for any of these coins.
But the trend is clear: local fiat-pegged stablecoins are slowly but surely breaking out of their niche to become real financial instruments. And Argentina is the most telling example here.
I compiled the weekly trading volumes for four coins from December through June - and the picture that emerges is quite different from what one might expect.
The Brazilian BRLA (@aveniaio) and BRZ (@transferogroup) clearly represent the mature end of the market. A steady $2.7–4m per week, no drama, the real just works.
The Mexican MXNB (@Bitso) is a different story: one week it’s $1m at its peak, the next it’s almost empty, a real roller coaster.
But the Argentine WARS (@RipioApp) - the smallest in absolute terms, is precisely what makes this segment worth watching. From ~$5k at the start to ~$64k - that’s exponential growth, not just percentage gains.
And it makes sense: where the local currency is in free fall, demand for a digital equivalent grows the fastest.
There’s no need to romanticize it, the market is still thin, liquidity is patchy, and a single major player can easily skew the chart for any of these coins.
But the trend is clear: local fiat-pegged stablecoins are slowly but surely breaking out of their niche to become real financial instruments. And Argentina is the most telling example here.
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