Nubank, the leading digital bank in Latin America, is gearing up to incorporate dollar-pegged stablecoins into its credit card payment system. This initiative was revealed by the bank’s vice-chairman, Roberto Campos Neto, who formerly held the position of Brazil’s central bank governor. During his presentation at the Meridian 2025 event, Neto emphasized the critical role of blockchain technology in bridging the gap between digital currencies and traditional banking operations.
According to reports from local media, Nubank plans to commence trials of stablecoin payments linked to its credit cards, part of a larger strategy to integrate digital assets into its banking services. Neto highlighted that current data indicates a significant shift in user behavior, noting, “What the data shows is that people aren’t buying to transact; they’re buying as a store of value. We need to comprehend the reasoning behind this trend.” He underscored the importance of understanding these shifts as they unfold.
The challenge for financial institutions, as noted by Neto, lies in devising ways to accept deposits in tokenized forms while leveraging these digital assets for client credit issuance. Founded in São Paulo in 2013, Nubank has rapidly expanded its operations, serving over 100 million customers in Brazil, Mexico, and Colombia. The bank made its initial foray into the digital asset space in 2022, allocating 1% of its net assets to Bitcoin and enabling crypto trading for its clientele.
In March 2025, Nubank expanded its cryptocurrency offerings by introducing four additional altcoins, providing customers access to Cardano (ADA), Cosmos (ATOM), Near Protocol (NEAR), and Algorand (ALGO). These developments are indicative of the bank’s commitment to enhancing its crypto-related services. The firm is also set to launch loyalty tokens on the Polygon blockchain, further emphasizing its embrace of innovative financial technologies.
The rise of stablecoin adoption has been notably pronounced in Brazil. In February, Brazil’s central bank president revealed that an impressive 90% of the nation’s crypto activities were associated with stablecoins. This trend is mirrored in Argentina, where rapid inflation rates exceeding 100% have propelled the use of dollar-pegged digital assets. A report from Bitso in March 2025 indicated that during 2024, USDt (USDT) and USDC (USDC) accounted for 50% and 22% of the country’s cryptocurrency purchases, respectively. Furthermore, stablecoins represented 39% of all transactions on Bitso’s platform throughout the region in that same period.
Stablecoin adoption is not limited to Brazil. In July 2025, the Central Bank of Bolivia entered into an agreement with El Salvador to promote cryptocurrencies as viable alternatives to traditional fiat currencies. Since the country lifted its crypto ban in June 2024, Bolivian banks have been authorized to process transactions involving Bitcoin and stablecoins. In Venezuela, where inflation reached a staggering 229% in May, stablecoins such as USDt have begun to supplant the bolívar in everyday commerce, affecting a range of transactions from groceries to salary payments. Data from Chainalysis indicated that stablecoins constituted 47% of all crypto transactions below $10,000 in 2024.
Nubank’s planned stablecoin integration reflects ongoing changes in the financial landscape across Latin America, as the demand for crypto solutions continues to grow in response to economic challenges. As banks adapt to these shifts, the convergence of digital assets and traditional banking could redefine the future of financial transactions in the region.
