Wu Shuo learned that Rain, a stablecoin payment infrastructure company, released a report stating that from 2022 to 2025, crypto transaction volume in Latin America was approximately $1.5 trillion, with USD stablecoins accounting for most fund flows. As of early 2025, around 57.7 million people in Latin America held digital currencies, representing about 12% of the region’s total population. Rain said that the adoption of stablecoins in Latin America is driven mainly by practical financial needs, such as local currency depreciation, difficulty obtaining USD, high cross-border payment fees, and insufficient coverage of banking services, rather than purely speculation. The report also noted that stablecoins accounted for about 90% of Brazil’s crypto transaction volume, and in Colombia, 99% of the funds used to buy crypto assets on centralized exchanges with local currency flowed directly into stablecoins.