Nubank, Latin America's largest digital bank, is set to begin a pilot program integrating dollar-pegged stablecoins into its payment system, starting with credit card transactions. This announcement was made by the bank’s vice-chairman, Roberto Campos Neto, at the Meridian 2025 event.
Campos Neto noted a significant shift in how people are using cryptocurrencies. While they were once primarily seen as a store of value, they are now increasingly being used for payments. This evolution, he said, requires traditional banks to adapt by supporting tokenized deposits and credit services backed by digital assets.
This move is part of Nubank’s broader expansion into the crypto space, which began in 2022. The bank serves over 100 million customers across Brazil, Mexico, and Colombia and already offers trading services for cryptocurrencies like Bitcoin, Cardano, and Algorand.
The article highlights that stablecoin adoption is accelerating across Latin America due to high inflation and currency instability. In Brazil, 90% of crypto activity is tied to stablecoins. In Argentina, stablecoins accounted for over 70% of crypto purchases in 2024, and in Venezuela, they are frequently used for daily transactions. Even Bolivia has lifted its crypto ban and now supports Bitcoin and stablecoin payments.
The article also touches on a broader trend of stablecoin growth. The recently passed GENIUS Act in the U.S. aims to bolster the dollar's dominance through stablecoins. The U.S. Treasury Department projects the stablecoin market could exceed $2 trillion by 2028, a sentiment echoed by Ripple CEO Brad Garlinghouse. This outlook is also attracting major players like Western Union, which is exploring stablecoins to modernize its global remittance services.
September 2025, Cryptoniteuae