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Latin America’s Largest Digital Bank Nubank Eyes Dollar-Pegged Stablecoins

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Nubank, the largest digital financial institution in Latin America, is making ready to combine dollar-pegged stablecoins into its cost ecosystem, beginning with bank card transactions.

Key Takeaways:

  • Nubank plans to pilot dollar-pegged stablecoin funds via its bank cards.
  • Campos Neto says crypto is progressively shifting from a retailer of worth to a cost software.
  • Stablecoin adoption is accelerating throughout Latin America amid high inflation and foreign money instability.

Speaking at the Meridian 2025 event on Wednesday, Nubank vice-chairman and former Brazilian central financial institution governor Roberto Campos Neto revealed the financial institution’s plans to pilot stablecoin-based funds.

He emphasised the rising significance of blockchain expertise in bridging digital belongings with the normal banking system.

Nubank Sees Shift in Stablecoins Use

Campos Neto famous that whereas many individuals are shopping for crypto as a retailer of worth reasonably than for transactions, this conduct is progressively shifting.

“We want to grasp why that is taking place,” he mentioned, pointing to the necessity for banks to evolve by accepting tokenized deposits and enabling credit score issuance backed by digital belongings.

Nubank’s transfer into stablecoins displays its ongoing growth into the crypto house. The São Paulo–based mostly financial institution, which serves over 100 million clients throughout Brazil, Mexico, and Colombia, entered the market in 2022 with a Bitcoin allocation and crypto buying and selling companies.

It later added help for altcoins equivalent to Cardano, Cosmos, Near Protocol, and Algorand in early 2025.

The stablecoin development is especially sturdy in Brazil. In February, the nation’s central financial institution president revealed that 90% of crypto exercise there was tied to stablecoins.

High inflation and foreign money volatility have made dollar-pegged tokens like USDT and USDC engaging alternate options.

Neighboring international locations are seeing related adoption patterns. In Argentina, the place inflation has surged previous 100%, stablecoins accounted for over 70% of all crypto purchases in 2024, in accordance with Bitso.

In Venezuela, the place annual inflation hit 229% in May, tokens like USDT are more and more utilized in every day commerce, with practically half of all sub-$10,000 crypto transactions made in stablecoins.

Even Bolivia has shifted its stance, lifting its crypto ban in 2024 and signing an settlement with El Salvador to advertise crypto adoption.

The Bolivian central financial institution now helps Bitcoin and stablecoin funds inside its monetary system.

Trump-Backed GENIUS Act Boosts US Push for Dollar-Pegged Stablecoins

The latest passage of the GENIUS Act, signed by President Trump, goals to cement the greenback’s dominance by backing dollar-pegged stablecoins in international markets.

The Treasury Department expects the stablecoin market to exceed $2 trillion by 2028, a projection that locations better emphasis on liquidity, interoperability, and regulatory alignment throughout the ecosystem. Tether’s newest transfer underscores a practical shift towards that future.

As reported, Ripple CEO Brad Garlinghouse has mentioned the stablecoin sector is poised for explosive development, projecting the market may balloon from its present $250 billion capitalization to as much as $2 trillion within the close to future.

“Many folks assume it’s going to attain $1 to $2 trillion in a handful of years,” Garlinghouse mentioned, including that Ripple is positioned to learn from that trajectory.

Meanwhile, Western Union is positioning itself for a brand new section of digital transformation, signaling strong interest in using stablecoins to modernize its international remittance operations.

The put up Latin America’s Largest Digital Bank Nubank Eyes Dollar-Pegged Stablecoins appeared first on Cryptonews.

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