Stablecoins for business payments: real use cases in LATAM

This content is for informational purposes only. It does not constitute financial, legal, tax or regulatory advice. Each company should validate its payment implementation with its internal teams and external advisors. 

Stablecoins for business payments moved from pilots to production across Latin America. According to Fireblocks' State of Stablecoins survey, 71% of institutions in the region already use stablecoins for cross-border payments, the highest adoption rate of any region in the world. Regional transaction volume reached an estimated 324 billion dollars in 2025, an 89% increase year over year, according to The Stablecoin Surge, a report by OpenTrade produced in collaboration with Bitso and other infrastructure players in the region.

This article looks at the use cases behind those numbers, such as vendor payments, treasury and cross-border flows, and at how companies fit stablecoins into the financial operations they already run.

 What the adoption data shows 

 Adoption claims are easy to make and hard to verify, so it helps to start with figures that come from named sources and defined periods. The table below gathers the indicators that best describe where the market stands. 

Two details in this data matter more than the headline growth. First, the profile of the adopter changed: payment service providers grew their stablecoin volume 68% and gaming platforms multiplied theirs by 5.3 in one year, which means adoption expanded beyond remittance companies and trading desks into mainstream money movement. Second, scale became visible at the infrastructure level: Bitso Business closed 2025 on track to process 82 billion dollars in annualized total payment volume, serving more than 1,900 institutional clients across the US, LATAM and Europe.

The numbers explain how fast adoption is growing. The next question is where that adoption is happening in real business operations.

Where stablecoins for business payments carry real volume today

Three use cases concentrate most of the enterprise activity behind the adoption data. Each one solves a different operational problem, and each one is already running in production across the region.

1. Vendor and supplier payments

Paying suppliers is the most common entry point. In the EY-Parthenon stablecoin survey, 62% of companies already using stablecoins apply them to supplier payments.

The typical adopter sells in dollars and pays vendors in local currency, so the corridor that matters most in the region is US to Mexico. With deep USDC to MXN liquidity, treasury holds dollars until the payment date, locks a quote at execution and delivers pesos through SPEI, which reduces idle balances and FX surprises.

The workflow details are covered in our article on when stablecoins make sense for supplier invoices; the adoption data confirms that this is where many finance teams start.

2. Treasury and FX

Treasury moved from experiment to core use case faster than any other flow. FX, treasury and B2B transactions represented 45% of the institutional stablecoin volume that Bitso Business processed in the first half of 2025.

Companies use dollar-denominated stablecoins as working balances to move liquidity between entities and countries in minutes, outside banking windows, and to reduce the prefunded accounts that traditional cross-border payments in Latin America usually require. A second signal of maturity is the arrival of local-currency stablecoins: MXNB, pegged to the Mexican peso, and BRL1, pegged to the Brazilian real, exist because enterprise flows now need to settle the last FX leg on-chain as well.

3. Cross-border flows and mass payouts

Cross-border settlement remains the largest volume driver. Mizuho research cited by The Digital Chamber reports that remittance fees on the US–Mexico corridor drop below 1% on stablecoin rails, compared with the 5% to 7% that traditional providers charge.

For platforms, the same rails power mass payouts in Latin America: marketplaces, gaming operators and creator-economy platforms pay thousands of sellers, players and contractors in local currency from a single dollar balance.

The 5.3x growth of gaming volume in one year shows how quickly payout-heavy industries scale once the first corridor works.

How companies fit stablecoins into existing financial operations 

Although these use cases solve different business problems, companies tend to implement them following a very similar operating model.

The adoption data also reveals a consistent integration pattern. Companies that reached production kept their ERP, approval hierarchy and accounting untouched and changed only the settlement leg.

Conversion happens in and out within the same payment flow, so the counterparty receives local currency and finance avoids holding a volatile asset. Integration runs through an API for cross-border payments in LATAM that connects quoting, conversion, local delivery and reconciliation data in one flow, instead of one project per country. Our guide to stablecoins for business payments in LATAM details that operating model step by step.

This pattern explains why adoption accelerated: the decision stopped being a technology bet and became a rail change that a CFO can measure.

 What the adoption curve suggests for 2026 

Regulation is consolidating what the market already built. Brazil brought stablecoin transactions under its foreign-exchange framework, Argentina introduced mandatory registration for virtual asset service providers, and the GENIUS Act created the first federal framework for stablecoin issuance in the US. Rules keep evolving, and some of them will reshape specific flows, so companies should treat the regulatory map as a moving input in any implementation plan.

The consistent lesson from the data is that adoption grows faster where regulatory clarity, deep local liquidity and real-time local rails such as SPEI and Pix coexist, and Mexico currently combines all three better than any other market in the region.

For a CFO or Treasury lead, the practical benchmark is simple: companies comparable to yours are already settling suppliers, moving treasury and running payouts on these rails at measurable scale.

The question has shifted from whether the model works to which corridor in your own operation would benefit first.

 FAQs 

Is stablecoin adoption in LATAM limited to fintech and crypto-native companies?

No. The Fireblocks State of Stablecoins survey found adoption increasingly driven by traditional B2B players such as import-export firms and trading houses.

How much can businesses save by paying with stablecoins?

EY-Parthenon found that 41% of corporate users report savings of at least 10% on cross-border payments, and a BVNK/YouGov survey of 4,600 stablecoin users across 15 countries found average fee savings of about 40% versus traditional remittance channels. Actual savings vary by corridor, ticket size and provider, so companies should measure their own baseline before and after a pilot.

Which LATAM countries lead stablecoin adoption besides Mexico?

Brazil and Argentina. Over 90% of Brazil’s crypto flows are stablecoin-related, and in Argentina stablecoins accounted for more than half of all peso exchange purchases between July 2024 and June 2025, driven by inflation and dollar scarcity.

How large could stablecoin business payments become by 2030?

EY-Parthenon projects that 5% to 10% of global cross-border payments could run on stablecoin rails by 2030.

*NVIO México enables direct access to SPEI and delivers payment services fully compliant with Mexican regulation. NVIO Pagos México, S.A.P.I. de C.V., IFPE (“NVIO México”) is authorised and regulated by the Mexican National Banking and Securities Commission (CNBV). Learn more at nvio.mx/terms.