61.8% of Cryptocurrency Transactions in Argentina are Stablecoins

In 2023-2024, 61.8% of cryptocurrency transactions in Argentina were stablecoins. In 2024-2025, over 85% of assets purchased on peso-denominated exchanges were stablecoins. According to DeFiLlama Research, the number of cryptocurrency users in Argentina is expected to reach approximately 8.6 million in 2024, accounting for about 20% of the population. Dollar-pegged assets like Tether (USDT) and USD Coin (USDC) hold a significant share in local transactions. Argentina's annual inflation rate reached 292% in April 2024, with consumer prices rising by 2.1% compared to the previous month in May 2026. The Argentine government mandated the conversion of dollar deposits in the financial sector to pesos in 2002, and in 2019, it limited individual dollar purchases to $200 per month. Although foreign exchange regulations were relaxed in April 2025, stablecoins had already established themselves as a means for salaries and payment infrastructure. Stripe and Deel launched a stablecoin wallet in Argentina on June 3, 2026, and 85% of contractors in Argentina in 2025 expressed a preference to receive their salaries in US dollars. The demand for cryptocurrencies is influenced not only by stablecoins but also by Bitcoin (BTC).