a16z Crypto said stablecoins make up 94% of cryptocurrency trading volume denominated in Argentine pesos, the highest share among fiat currencies tracked by Artemis. The analysis points to Argentina as a standout case for dollar-linked crypto use, with roughly one in five people in the country using digital assets. It also said downloads of major crypto apps in Argentina rose 93% year over year in 2024.
According to the analysis, Argentine households have long saved in U.S. dollars, and stablecoins extend that habit through digital wallets. Even after the country lifted restrictions on foreign-currency purchases in April 2025, USDT and USDC remained widely used because they can be traded around the clock. a16z added that the trading flows likely reflect demand for dollar conversion, while actual wallet holdings may contain a larger share of assets such as Bitcoin. The item was cited by Techub News, which referenced crypto.news.
a16z Crypto said stablecoins account for 94% of crypto trading volume denominated in Argentine pesos, the highest share among fiat currencies tracked by Artemis.
The analysis said roughly one in five people in Argentina use cryptocurrency. In 2024, downloads of the country’s major crypto apps increased 93% from a year earlier.
According to a16z, Argentine households have long saved in U.S. dollars, and stablecoins continue that habit through digital wallets. Even though the country removed restrictions on foreign-currency purchases in April 2025, USDT and USDC are still widely used because they trade 24/7.
The firm added that the transaction flows reflect demand for dollar conversion, while the share of assets such as Bitcoin in user wallets may be higher.
Techub News cited crypto.news in its report.
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