Latin American exchange Bitso reported its B2B arm is on track to process $82 billion in annualized Total Payment Volume (TPV) for 2025. The figure represents a structural pivot in the region’s financial plumbing, moving beyond retail speculation into high-volume corporate treasury and cross-border settlement.
The Breakdown
The bulk of this volume stems from institutional rails rather than consumer trading. Mexico remains the primary engine, contributing $15.6 billion in annualized volume through Bitso’s direct connection to the local SPEI payment system. This integration allows global entities to bypass correspondent banking delays, settling transactions 24/7.
Growth was not uniform across sectors. While remittances provided a baseline, specialized verticals drove the sharpest increases:
- Gaming: Stablecoin usage in the sector surged 5.3x year-over-year.
- Payment Service Providers (PSPs): Volume grew 68% as aggregators utilized stablecoins for backend liquidity.
- Treasury & FX: These segments now account for nearly 45% of total volume, displacing traditional remittance dominance.
Institutional Context
The volume, roughly equivalent to the GDP of roughly 100 sovereign nations, validates the thesis that stablecoins are becoming the default settlement layer for emerging market fintechs. Corporations are increasingly utilizing USD-pegged assets not for yield, but for transactional velocity and FX hedging.
“Surpassing the $80 billion mark is a signal that the global financial system is undergoing a structural shift toward stablecoin-based infrastructure. Companies need faster and cheaper rails across borders and within countries.” — Felipe Vallejo, Chief Corporate Affairs Officer at Bitso.
The shift forces regional banks to compete with non-stop settlement cycles. Bitso’s data indicates that as liquidity deepens, the premium for “blockchain” rails is evaporating, replaced by a standard expectation for instant finality in B2B corridors.
