The story of Latin America’s crypto evolution has taken on extraordinary proportions in recent years. Centralized exchange activity in the region has grown from a modest $3 billion in annual flows in 2021 to an astounding $27 billion by the end of 2024. That represents an eightfold increase a growth of 800 percent marking the transformation of the crypto landscape across Latin America.
This surge reflects a shift from fragmented over the counter desks and boutique brokers toward sophisticated, integrated digital asset platforms. These exchanges now serve a diverse base of users, spanning retail investors and institutional players alike.
One exchange, in particular, has come to dominate the market. Bitso, a prominent LATAM platform, was responsible for processing more than $2 billion in flows early on in 2021. Fast forward to 2024, and Bitso had handled over $25.2 billion, capturing an overwhelming 93 percent share of all regional crypto exchange transactions. This meteoric rise highlights not only the growth of one company but the maturation and consolidation of the industry at large.
Part of the explanation for this growth lies beyond just price speculation. Across Latin America, users increasingly rely on crypto for real world utility remittances, protecting against inflation, and facilitating cross border commerce. These practical use cases have driven adoption even in the absence of a prolonged bull market. Looking ahead, Latin America’s crypto infrastructure appears poised to become a critical pillar of its financial ecosystem. As adoption broadens across demographics and sectors, we may be witnessing the genesis of a new era in financial inclusivity and digital innovation.
