Recent studies show clear trends in blockchain activity in Latin America, where Ethereum and Polygon lead the way.
Ethereum: Dominant Force in Blockchain Activity
According to recent analysis, Ethereum processed 75.6% of all transactions in Latin America from June 2024 to June 2025. One reason for this dominance is that Ethereum supports widely used tokens like USDT and USDC. Additionally, local currency-backed tokens operate on its network. Institutional trust has also played a role, along with existing regulated entry/exit services and custody solutions.
Growth of Polygon's Activity
Polygon, which previously held an 11% market share, reached 20.6% in June 2025. This growth is attributed to corporate partnerships, including pilot programs with Mercado Libre, Nubank, and Coca-Cola that were primarily conducted in Brazil, Mexico, and Colombia. Meanwhile, Base, developed by Coinbase, saw a 36% year-over-year growth and held a 4.2% share.
Practical Application of Stablecoins
Stablecoins continue to serve as the primary tools for users in Latin America due to their ability to protect against currency devaluation. Many people use them to bypass government transfer limits. According to Brazil's central bank, stablecoins constitute 70% of tracked crypto activity, with small transactions under $1 million growing 40% locally.
Thus, Ethereum and Polygon remain key players in the blockchain market of Latin America, providing different functionalities and approaches to the use of digital assets.
