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a16z: 94% of Argentine peso-denominated crypto transactions flow to stablecoins

4 days ago

a16z Crypto has released a report stating that roughly one-fifth of Argentina’s population uses cryptocurrency, with 94% of Argentine peso-denominated crypto transactions flowing to stablecoins — the highest share among major currencies tracked by Artemis. Despite Argentina’s recent declines in inflation and relaxed restrictions on dollar purchases, stablecoin usage has not faded significantly: the share of workers receiving salaries in stablecoins has stabilized, while downloads of the crypto wallet Lemon continue to rise. a16z Crypto notes that stablecoins may no longer merely act as an inflation hedge for Argentines, but are gradually becoming a common daily habit.

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