Stablecoin adoption in Latin America is increasing as more users turn to Circle’s USDC and Tether’s USDT for financial stability, according to a new report from cryptocurrency exchange Bitso.The USDC (USDC) and USDt (USDT) stablecoins have become a “store of value” in Latin America, accounting for 39% of total purchases on Bitso in 2024, the firm said in its third edition of the Latin America Crypto Landscape report issued on March 12.The report highlighted a significant increase in stablecoin adoption on the platform, with total stablecoin purchases surging 9% from 2023.“In Latin America, challenging macroeconomic conditions, characterized by high inflation and currency devaluations, drove increased cryptocurrency adoption — particularly stablecoins — as a reliable store of value,” Bitso stated in the report.USDC leads the race, Bitcoin followsWhile stablecoin purchases surged, Bitcoin (BTC) saw a notable decline in trading volume on Bitso in 2024, with its share dropping to 22% from 38% in the second half of 2023.According to Bitso, the decline in BTC purchases in Latin America indicates the growing trend of the hodl strategy, which implies buying and holding the cryptocurrency to profit from its long-term value appreciation.The drop in BTC purchases aligned with the bull market of