Tether and Circle Stablecoin Purchases Dominate in Argentina

Tether and Circle Stablecoin Purchases Dominate in Argentina

Argentina, the nation which recently elected self-described “anarcho-capitalist” Javier Milei as president, has the largest purchases and holdings of stablecoins in Latin America over the past six months, according to a report by Mexican-founded crypto exchange Bitso.

Dealing with a severe economic crisis and plunging peso, 60% of Argentine crypto purchases on Bitso were for dollar-based stablecoins USDT and USDC and just 13% of buys were for bitcoin.

This compares to Colombia, Brazil and Mexico, where stablecoin purchases ranged between 31% and 40% of total crypto buys.

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Argentines were responding to current “political and economic context, which has promoted the acquisition of stablecoins as an alternative

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