A16z Crypto reports 94% of Argentina’s peso trading in stablecoins

Almost every peso that flows into crypto in Argentina ends up in stablecoins. According to a16z crypto’s latest report, 94% of Argentine peso cryptocurrency trading volume is now directed at stablecoins, the highest share among any major currency tracked by analytics firm Artemis. The numbers behind Argentina’s stablecoin obsession The a16z crypto report, published on August 30, 2026, paints a picture of a country that has essentially built a parallel financial system on top of digital dollars. Roughly one in five Argentines now use crypto assets, placing the country firmly at the front of digital asset adoption across Latin America. Downloads of the top 15 crypto applications surged 93% year-over-year in 2024, suggesting the user base is broadening well beyond early adopters and tech-savvy traders. Monthly inflation in the country peaked at a brutal 25.5%, meaning prices roughly doubled every three months at the worst point. That figure has since plummeted to 2.1%. Data from payroll platform Deel illustrates the trajectory. USDC payments to Argentine contractors spiked at 289% year-over-year growth in April 2024, coinciding with peak inflationary pressure. By July 2026, that growt...