Latam Crypto Report #25: Nexo Acquires Buenbit
Also: TRM Labs reveals new Venezuela report; Chainalysis unpacks LATAM trends
¡Hola a todos! 👋
Welcome back to the 🌎Latam Crypto Report, where contributor Kristin Majcher delves into the biggest crypto news in the region. We took a little break from our coverage in the past few months, but we’re happy to be back recapping the biggest news in the back half of the year before we take some time off for the holidays.
In this edition, we’ll cover:
Why Nexo is acquiring Argentina’s Buenbit
TRM Labs’ new analysis on Venezuela crypto adoption
LATAM insights from Chainalysis’ 2025 Geography of Crypto Report
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As we wrap up 2025, we want to extend a huge thanks to everyone who has taken the time to read and share this newsletter. Enjoy the holidays, and we’ll see you back here in the new year. 🎊
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Crypto Lender Nexo to Acquire Argentina’s Buenbit
In some fresh acquisition news, crypto lender Nexo agreed to buy Argentina’s Buenbit last week for an undisclosed amount to help it expand across Latin America.
“Argentina has long been a proving ground for fintech innovation. By joining forces with a team that knows this market inside out, we’re taking a confident first step in bringing Nexo’s global resources to a local context. With Nexo’s scale and Buenbit’s relationships and experience, our innovative solutions will find fertile ground for exponential growth in the next 12 months.” — Antoni Trenchev, Co-founder, Nexo
Nexo has $11 billion in assets under management and will make Buenos Aires its Latin America hub.
CoinDesk reported that the acquisition will allow Nexo to operate under Argentina’s regulatory framework, as Buenbit is registered as a virtual asset service provider (VASP) with Argentina’s securities regulator.
By acquiring Buenbit, Nexo will have access to a user base in Argentina and Peru and also plans to expand in Mexico.
The deal is subject to regulatory approval.
(The Block, CoinDesk, Reuters, Structured Retail Products)
TRM Labs Examines Venezuela’s Crypto Ecosystem
Blockchain intelligence firm TRM Labs released a new report on Venezuela’s crypto ecosystem in light of geopolitical tensions.
“Among the top destinations for site visits from Venezuelan IP addresses, more than one-third (38%) were directed to a single global platform that offers P2P trading functionality — underscoring its role in facilitating crypto access in Venezuela’s low-banking environment.” — TRM Labs
Some key takeaways include:
How hyperinflation, cross-border remittances and a lack of reliable banking access has influenced Venezuelans’ widespread use of stablecoins — especially USDT.
“Structural risks” within Venezuela’s crypto ecosystem that could be vulnerable to illicit financial activities.
How informal P2P markets pose compliance and sanctions risks.
(Crowdfund Insider, Bitcoin.com, Cryptopolitan, Decrypt)
‘Crypto Powerhouse’: Chainalysis Unpacks LATAM Crypto Ecosystem
Every year, Chainalysis’ Geography of Cryptocurrency report provides one of the most comprehensive overviews of Latin American crypto adoption trends. While the report came out a couple of months ago, we think it’s worth revisiting to help prepare for the new year ahead.
Here’s a quick overview of the main data to keep in mind as you plan for 2026:
Latin America’s crypto adoption grew to 63% from 53% during the year period ending in June 2025, “reinforcing the region’s trajectory as one of crypto’s fastest-growing hubs.”
Three Latin American countries were included in the top 20 countries on Chainalysis’ Crypto Adoption Index: Brazil (5th place), Venezuela (18) and Argentina (20).
Latin America saw nearly $1.5 trillion in cryptocurrency transaction volume between July 2022 and June 2025.
Brazil received $318.8 billion in crypto value between July 2024 and June 2025, which represents a third of all activity in the region and is significantly higher than the $90.3 billion it brought in last year.
Following behind Brazil were Argentina ($93.9 billion), Mexico ($71.2 billion), Venezuela ($44.6 billion), and Colombia ($44.2 billion).
(Chainalysis, Brazil Crypto Report)
🗞 Latin America Crypto News Rundown
Here’s where we break down Latin America crypto headlines from the past few weeks, organized by country and region. If you don’t see a country listed, it’s simply due to the news flow during a particular week.
Regional News
OranjeBTC began trading on the Brazil Stock Exchange (B3) in October and purchased $1.94 million worth of bitcoin. It then repurchased 99,600 of its own shares before the end of the month. (Bitcoin Magazine, CoinDesk, Valor)
Coinchange thoroughly examined the regulatory landscape in its LATAM Crypto Regulation Report 2025. (BeInCrypto, Crowdfund Insider)
Tether recently invested in Parfin “to accelerate the adoption of USDT for institutional use cases and improve access to efficient, blockchain-based settlement across the region.” (Tether press release, FinTech Weekly, CoinDesk)
DLocal and Félix have partnered to launch instant, stablecoin-funded remittances through WhatsApp in Mexico, Guatemala, Honduras, and El Salvador. DLocal also announced a Western Union partnership. (The Paypers, Fintech Finance News, Financial IT)
Bybit appointed Patricio Mesri as its LATAM CEO. (CriptoNoticias, CCN)
Bybit’s Mesri and Tether’s Paolo Ardoino commented on the role of stablecoins in Latin America at the recent European Blockchain Convention in Barcelona. (CoinMarketCap)
Bitso integrated Tether (USDT) on the Solana blockchain. (La Republica, Fintech Finance News)
The Miami Herald shed a light on local businesses adopting crypto to do business in Latin America. (Miami Herald)
Nubank plans to pilot stablecoin payments for credit card customers. (Cryptonews, CoinMarketCap, The Rio Times)
ONG Bitcoin Argentina’s Rodolfo Andragnes shared his thoughts on how bitcoin is now part of a global financial system and how that impacts Latin America. (CriptoNoticias).
CryptoMKT CEO Maria Fernanda Juppet spoke about stablecoins’ global influence at MERGE Madrid 2025. (El Periodista)
Exodus Movement announced it would acquire Uruguay-based “stablecoin payments orchestrator” Grateful. (CoinDesk, The Defiant, Bitcoin.com)
South America
🇦🇷 Argentina
European exchange WhiteBIT announced its plans to expand to Argentina and Brazil. (WhiteBIT press release, Bitcoinist)
Ripio launched a new Argentine peso stablecoin called wARS. (CoinDesk, CriptoNoticias, Ámbito, iProUP)
Payment platform dLocal partnered with Alchemy Pay, allowing the latter to offer crypto purchases for Argentina-based users through bank transfers. (Fintech Finance News, Latam Fintech Hub)
Binance enabled crypto payments using QR codes in Argentina. (Infobae, Cronista, Criptonoticias)
In Córdoba, a long-awaited public trial began in late October related to the fake cryptocurrency OneCoin. (BeInCrypto, CriptoNoticias, Perfil)
R3al Blocks and Mathienzo tokenized yerba mate 🧉, Argentina’s most iconic drink. (BeInCrypto).
Argentina’s securities regulator (CNV) approved a resolution that expanded the country’s tokenization regime. (BeInCrypto, iProUP)
🇧🇴 Bolivia
Bolivia elected blockchain-friendly Rodrigo Paz as its next president in late October. (BeInCrypto, CriptoNoticias, CoinMarketCap)
The country also reportedly tested a pilot program to record voting records from certain polling places on the Solana blockchain as NFTs. (Forbes, BeInCrypto)
🇨🇱 Chile
Presidential candidate Franco Parisi has proposed using blockchain technology in his government plan. (BeInCrypto)
María Pía Aqueveque Jabbaz argues that tokenization could help revitalize Chile’s pension system. (CoinDesk)
🇨🇴 Colombia
Colombia’s authority overseeing personal data protections ordered World to shut down operations in the country. (Bitcoin.com, El Tiempo, El País)
🇵🇾 Paraguay
Argentine crypto mining company Cryptogranjas is in talks with Paraguay’s national grid operator about setting up a crypto mining farm powered by renewable energy from the Itaipú dam. (Bloomberg Línea)
🇵🇪 Peru
Banco de Crédito del Perú (BCP) and BitGo launched a new crypto banking platform called Criptococos. (Gestión, El Comercio Perú)
Lemon CFO Maxi Raimondi highlighted the factors behind Peru’s growing crypto volumes. (Infobae)
🇺🇾 Uruguay
Tether confirmed it would wind down its crypto mining operations in Uruguay following high energy prices. (CoinDesk, El Observador, Bitcoin.com, The Street)
🇻🇪 Venezuela
The New York Times highlighted how Nicolás Maduro’s regime uses crypto in response to sanctions. (New York Times, BeInCrypto, Infobae)
Venezuela arrested two people suspected of allegedly manipulating the U.S. dollar using Binance and USDT. (BeInCrypto)
BeInCrypto examines the use of USDT in Venezuela. (BeInCrypto)
Central America, Mexico & Caribbean
🇨🇷 Costa Rica
Costa Rica’s Central Bank president addressed crypto after investigators presented a study on adoption in the country. (La Nación)
🇵🇦 Panama
Law experts in Panama presented a proposal that would establish a framework to regulate digital assets ahead of a Financial Action Task Force visit in 2027. (Destino Panamá, Crypto News Flash)
Towerbank’s Head of Digital Assets Gabriel Campa appeared on Argentina’s Canal E to discuss how the bank allows its customers to exchange dollars and crypto. (Perfil)
🇲🇽 Mexico
Mexico’s central bank, Banxico, said in a new report that it would continue to maintain a “healthy distance” between digital assets and the banking system. (CoinDesk, Bloomberg Línea, Bloomberg, Diario Bitcoin)
Binance Mexico’s General Manager Salvador Rivero unpacked remittance trends in Latin America and highlighted the importance of clear regulations in the crypto sector. (Milenio)
🇸🇻 El Salvador
El Salvador recently partnered with Elon Musk’s xAI to launch an AI-powered public education program. (CoinDesk, The Street)
El Salvador disclosed its largest-ever single-day bitcoin acquisition in mid-November. (The Block, CoinDesk)