The Rise of Crypto in Latin America
Over the past few years, Latin America (LATAM) has emerged as a vital player in the global cryptocurrency ecosystem. According to a recent Dune Report, the region’s centralized crypto exchange flows have skyrocketed, growing ninefold from 2021 to 2024. This incredible growth underscores LATAM’s transformation into a thriving crypto-friendly market.
Unprecedented Growth Across LATAM
In 2021, LATAM’s annual crypto exchange flows amounted to $3 billion. Fast forward to 2024, this figure surged to $27 billion—a staggering 800% increase. Such numbers reflect not only adoption within the region but also the maturity and consolidation of its crypto ecosystem.
During this period, smaller brokers and OTC desks evolved into integrated exchanges serving both retail and institutional investors. Major exchanges such as Bitso, Mercado Bitcoin, and Lemon Cash have been at the forefront of this transformation.
Bitso: The Market Leader
Since 2021, Bitso has dominated the Latin American exchange landscape. By processing over $2 billion in flows back in 2021, it represented 66% of the total flows. That dominance has only grown with the platform handling $25.2 billion in flows by 2024—a jaw-dropping 1,160% increase—accounting for an impressive 93% of all LATAM exchange activity.
Not Just a Bull Market Boom
Interestingly, this monumental growth isn’t simply tied to a bull market. According to Dune Analytics, Latin America’s shift toward real-world crypto utility has been a driving force. Use cases such as cross-border commerce, remittance settlements, and currency hedging have made cryptocurrencies indispensable for millions across the continent.
This highlights a growing trend where financial systems under pressure find innovative solutions through blockchain-based technologies.
Ethereum Leading the Way
On the technical side, Ethereum remains the predominant force in LATAM’s crypto market. Between January 2021 and July 2025, Ethereum-based flows crossed $45.5 billion, accounting for approximately 75% of all activity. Meanwhile, Tron, driven largely by low-cost Tether (USDT) transactions, followed with $12.5 billion.
Additionally, Solana and Polygon also claimed notable shares with flows of $1.45 billion and $1.17 billion, respectively.
How to Get Involved
As cryptocurrency continues to make waves in Latin America, users looking to explore its safe and profitable opportunities can start with platforms like Binance or Coinbase. For streamlined cross-border payments, consider using wallets that support Ethereum and Tether on low-cost networks like Tron. Always make sure to secure your assets with a reliable hardware wallet, such as the Trezor Model T.
With LATAM at the forefront of crypto innovation, the region is paving the way for blockchain technologies to reshape global finance.
