Nubank, Latin America’s largest digital bank, plans to integrate dollar-pegged stablecoins and credit cards for payments, according to vice-chairman Roberto Campos Neto. The move aims to link digital assets with traditional banking services and address the shift towards using crypto as a store of value.

Stablecoin adoption in Latin America is on the rise, with Brazil showing 90% of crypto activity linked to stablecoins. In Argentina, where inflation exceeds 100%, dollar-pegged digital assets have gained traction. Bitso’s report reveals that USDT and USDC accounted for a significant portion of cryptocurrency purchases in the region.

Other Latin American countries are also embracing stablecoin adoption. The Central Bank of Bolivia partnered with El Salvador to promote crypto as an alternative to fiat. Venezuela, facing 229% inflation, sees stablecoins like USDt replacing the bolívar in daily transactions. Chainalysis data shows stablecoins made up a significant portion of crypto transactions in 2024.

Read more at Cointelegraph: Nubank Plans Stablecoin Integration for Credit Card Transactions