Key facts
- Tether (USDT) holds near 100% market share in most Latin American stablecoin markets.
- USDT serves as the de facto dollar proxy in the region.
- Stablecoin usage in Latin America is comparable to cash transactions.
A recent report by Oobit has revealed that Tether (USDT) commands a dominant market share in Latin America's stablecoin landscape, holding nearly 100% of transactions in most regional markets. The report highlights USDT's role as the de facto dollar proxy for many users in the region. Furthermore, Oobit observed that the way stablecoins are utilized in Latin America is similar to how cash is used. This indicates a significant reliance on USDT for daily transactions and as a stable store of value in these economies.