Stablecoin Volume by Region
Of the companies included in the broader study, 52% provided geographic-level reporting, enabling analysis of stablecoin usage patterns across both regional and national contexts. These insights shed light on how stablecoin-powered companies, including fintechs, exchanges, payment platforms, and on/off-ramp providers, operate across markets. By examining regional behavior, we can identify that USDT and Tron are the most popular Stablecoin and Chain used around the world.
Latin America
Across Latin America, Tron dominates as the primary blockchain for stablecoin settlement, especially in Colombia, Ecuador, and Brazil, where it accounts for the vast majority of observed activity. USDT is the primary stablecoin across the region, though Argentina stands out for its relatively high USDC usage, likely driven by local startups responding to chronic currency instability.
Africa
In Africa, Tron and Ethereum dominate stablecoin settlement, with Tron leading in North and West African markets, while Ethereum sees more use in Kenya, Nigeria, South Africa, and Uganda. USDT remains the primary stablecoin across the continent, though USDC has gained notable traction in select countries like Nigeria and South Africa.
Americas
In the Americas, Tron leads stablecoin settlement across most markets, with Ethereum showing stronger presence in the U.S. and Jamaica. USDT overwhelmingly dominates stablecoin volume region-wide, though USDC sees meaningful adoption in the U.S. and modest presence in countries like Mexico and Jamaica.
Europe
In Europe, Tron dominates stablecoin settlement across nearly all markets, with Ethereum playing a secondary role and leading only in Spain. USDT accounts for over 90% of stablecoin volume throughout the region, while USDC and other stablecoins see minimal usage.
Asia
Asia shows the most diverse network landscape, with Tron leading in many markets but Ethereum, BSC, and Polygon (notably in India) also seeing meaningful adoption. USDT dominates stablecoin usage across the region, though India stands out with USDC capturing nearly half of local volume.