Between July 2022 and June 2025, Latin America reportedly recorded around $1.5 trillion in crypto transaction volume, according to an update from blockchain analytics firm Chainalysis.
Chainalysis also noted that the trajectory has been volatile but consistently upward: from $20.8 billion in crypto transaction volume in July 2022, activity increased to a $87.7 billion in December of last year, with several months in late 2024 and early 2025 maintaining levels above $60 billion.
Key growth phases included:
- November 2022 and March 2023, when monthly totals jumped above $34 billion and $37 billion, respectively.
- Late 2023, which delivered a string of record highs, including $46.3 billion in November and $45.1 billion in December.
- 2024 year-end, when volumes more than doubled over the previous year’s peak, culminating in the $87.7 billion December high.
Although volumes cooled slightly in the first half of 2025, with figures moderating to $47.9 billion by June of 2025, the region remains on a higher baseline than in 2022 or 2023, indicating steady momentum behind crypto adoption, even though there has been significant short-term volatility.
This trajectory reflects industry-wide growth in crypto adoption globally, and Latin America’s economic context.
As Chainalysis have noted in previous years, the combination of persistent inflation, currency volatility, as well as restrictive capital controls across several countries in the LatAm region continues to fuel demand for stablecoins as a safe store of value and as a “hedge against local macroeconomic risk.”
Meanwhile, the LatAm region’s position as a remittance corridor has boosted the demand for crypto to facilitate more efficient cross-border transfers.
Brazil decisively dominates the Latin America region with $318.8 billion in crypto value received, accounting for about a third of all LatAm crypto activity.
This increase represents one of the most significant growth stories in the region, establishing Brazil as LATAM’s clear crypto leader.
Argentina ranks second in the area with $93.9 billion in transaction volume, consistent with trends observed in the previous Adoption Index.
Mexico ($71.2 billion), Venezuela ($44.6 billion), and Colombia ($44.2 billion) round out the top 5, according to the report from Chainalysis.
Comparatively smaller markets like Peru ($28.0 billion), Chile ($23.8 billion), and Bolivia ($14.8 billion) also serve meaningful roles, while El Salvador contributed relatively more modest volumes ($3.5 billion).