According to Wu's report from Dune, the annual trading volume of exchanges in the Latin American region has surged ninefold from 2021 to 2024, reaching $27 billion, mainly driven by Ethereum for high-value Settlements, Tron for low-cost USDT payments, and Solana and Polygon for scaling retail volume; by July 2025, USDT and USDC account for over 90% of the tracked exchange trading volume; local stablecoin trading volume pegged to BRL has increased by 660% year-on-year, and token trading volume pegged to MXN has increased by 1,100 times year-on-year; protocols such as PayDece and ZKP2P, along with infrastructure providers like Capa, processed nearly $60 million in volume; platforms like Picnic, Exa, and BlindPay offer integrated interfaces for stablecoin balances, savings, and real-world spending.

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