Ethereum’s growing influence in Latin America: balancing global blockchain infrastructure with regional innovation potential

Ethereum’s adoption in Latin America surged by 116.5% between 2023 and 2024, thanks to its role in remittances and financial inclusion. In 2023, Mexico's stablecoin transaction volume reached US$63.3 billion, with handling fees reduced by as much as 70%, while the use of stablecoin in Brazil's cross-border business increased by 29%. More than 40% of Latin American cryptocurrency users rely on stablecoins for daily transactions. Institutional projects like LACChain, which is active in 12 countries and Brazilian Drex, backed by Santander and Mastercard, are leveraging Ethereum’s Layer 2 solution for digital identity, tokenization and interbank transactions. Despite the fragmentation of regulation, Ethereum’s infrastructure supports economic transformation across the region.