In a significant milestone for Latin America's cryptocurrency market, XRP has emerged as the top digital currency for shopping, outpacing Ethereum (ETH) and Solana (SOL) in adoption. Data from Bitso reveals that XRP constitutes 9% of all platform purchases, with Mexico spearheading regional adoption. This trend underscores the accelerating integration of cryptocurrencies into Latin America's payment ecosystems.
Key Trends in Global Crypto Adoption
Accelerating Ownership Growth
- Crypto.com's 2024 Sizing Report documents a 13% increase in global cryptocurrency owners (from 583M in January to 659M by December 2024).
- Bitcoin (BTC) leads with 337M owners, followed by Ethereum (ETH) at 142M.
Why Businesses Are Adopting Crypto Payments
- Lower Fees: Crypto transactions charge 1–2%, versus 3.5% for credit cards.
- Speed: Cross-border payments settle in seconds.
- Security: Blockchain reduces fraud risks like double-spending.
The Rise of Stablecoins in Commerce
- Q1 2024 stablecoin transactions hit $6.8B**, nearing the 2022 peak of **$7B (Bernstein Data).
- Juniper Research projects $187B+ in stablecoin transactions by 2028, signaling mainstream B2C utility.
Challenges for Crypto Payments
| Challenge | Solution |
|---|---|
| Price Volatility | Instant fiat conversion tools |
| Integration Complexity | Simplified APIs from payment processors |
XRP’s Dominance in Latin America
Bitso’s LATAM Adoption Insights
- XRP accounts for 9% of Bitso purchases, surpassing ETH (5%) and SOL (4%).
- Mexico drives adoption, with 10% of trader purchases in XRP.
👉 Explore how XRP transforms cross-border payments
Amazon and Ripple: A Game-Changer for XRP
- RippleNet’s integration with Amazon enables real-time global payments.
Price Forecast (April 2025):
- High: $2.10
- Low: $1.69
(Driven by institutional RippleNet adoption)
FAQ: Crypto Payments in LATAM
Q: Why is XRP popular in Latin America?
A: Low fees, fast settlements, and strategic partnerships like Bitso.
Q: Are stablecoins replacing fiat?
A: Not yet, but they’re gaining traction for B2C transactions.
Q: How volatile are crypto payments?
A: Solutions like instant fiat conversion mitigate risks.
👉 Learn more about crypto payment solutions
Future Outlook
- Post-pandemic digitalization fuels crypto payment adoption.
- Regulatory clarity and UX improvements will solidify crypto as a mainstream option.
Businesses adopting crypto payments today gain a competitive edge in the digital economy.
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