Nubank, the largest digital bank in Latin America, is reportedly set to integrate dollar-pegged stablecoins and credit cards for payments.
This announcement came from the bank’s vice-chairman and former governor of Brazil’s central bank, Roberto Campos Neto, during the Meridian 2025 event on Wednesday, where he emphasized the significance of blockchain technology in bridging digital assets with traditional banking systems.
According to local media, Campos Neto indicated that Nubank plans to start testing stablecoin payments via its credit cards as part of a broader initiative to merge digital assets with banking services.
“Data indicates that people aren’t purchasing to transact; they see it as a store of value,” he reportedly stated. “We need to explore the reasons behind this. Change is occurring, but we must grasp it.”
He further pointed out that a major challenge for banks lies in accepting deposits in tokenized formats and utilizing these assets to extend credit to clients.
Founded in São Paulo in 2013, Nubank serves over 100 million customers in Brazil, Mexico, and Colombia. The bank entered the digital asset arena in 2022, allocating 1% of its net assets to Bitcoin and launching crypto trading for its customers.
In March 2025, Nubank expanded its crypto offerings by adding four altcoins, granting customers access to Cardano (ADA), Cosmos (ATOM), Near Protocol (NEAR), and Algorand (ALGO).
Related: Nubank to launch loyalty tokens on the Polygon blockchain
Stablecoin adoption rises in Latin America
Brazil has witnessed a surge in stablecoin adoption. In February, the president of the Central Bank of Brazil mentioned during a Bank for International Settlements event that 90% of the country’s crypto activity was related to stablecoins.
Dollar-pegged digital assets have also gained popularity in Argentina, where inflation has soared above 100% in recent years.
A March 2025 report from Bitso indicated that USDt (USDT) and USDC (USDC) accounted for 50% and 22% of all cryptocurrency purchases in Argentina in 2024, respectively. The same report revealed that stablecoins constituted 39% of all purchases on its platform across the region in 2024.
Other Latin American countries are also seeing an increase in stablecoin adoption.
In July 2025, the Central Bank of Bolivia signed an agreement with El Salvador to promote cryptocurrency as a “viable and reliable alternative” to fiat. Since lifting its crypto ban in June 2024, Bolivia has permitted banks to handle Bitcoin and stablecoin transactions.
In Venezuela, where inflation reached 229% in May, stablecoins like USDt are starting to substitute the bolívar in everyday transactions, from groceries to salaries. Chainalysis data shows they constituted 47% of all crypto transactions under $10,000 in 2024.
Magazine: Legal Panel: Crypto aimed to disrupt banks, now it’s becoming them in stablecoin battle
