Nubank is testing stablecoin payments through credit cards in Brazil, marking a major step in Latin America’s move toward digital dollar usage.
Key Takeaways
- Nubank will pilot stablecoin payments via credit cards in Brazil, aiming to integrate blockchain-based assets with everyday banking.
- The initiative was announced by Vice-Chairman Roberto Campos Neto at the Meridian 2025 event.
- Stablecoins dominate crypto usage in Latin America, with 90% of Brazil’s crypto activity and 72% of Argentina’s 2024 crypto purchases involving stablecoins.
- The move reflects growing demand for stable, dollar-pegged digital currencies in regions suffering from high inflation and currency volatility.
What Happened?
Nubank, Latin America’s largest digital bank, announced plans to pilot stablecoin transactions using credit cards. The initiative, revealed by Nubank Vice-Chairman and former Central Bank of Brazil Governor Roberto Campos Neto, signals the bank’s efforts to merge traditional finance with blockchain technology. The test aims to allow customers to use dollar-pegged stablecoins for everyday credit card payments.
Campos Neto emphasized that customers primarily acquire stablecoins as a store of value, not for spending, and this trial could encourage more active usage in day-to-day commerce.
Brazil’s Nubank is preparing to test credit card payments using dollar-pegged stablecoins, says Campos Neto. Full Story Below 👇https://t.co/rwj5pMnd0Y
— Blockonomi (@blockonomi) September 19, 2025
Nubank’s Push Into Blockchain-Driven Banking
With over 100 million customers across Brazil, Mexico, and Colombia, Nubank is strategically positioned to lead financial innovation in Latin America. Campos Neto shared the company’s vision during the Meridian 2025 event, outlining how the trial will explore the potential of tokenized deposits and credit issuance through stablecoin integration.
- Campos Neto said, “People aren’t buying to transact, they’re buying as a store of value. And we need to understand why this is happening.”
- He noted challenges in using tokenized assets for credit issuance, highlighting operational and regulatory hurdles.
Nubank began its crypto journey in 2022, allocating 1% of its net assets to Bitcoin and launching crypto trading for its users. In March 2025, the bank expanded access to altcoins including Cardano, Cosmos, Near Protocol, and Algorand.
Why Stablecoins Are Gaining Momentum in Latin America?
Latin America is fast becoming a global leader in stablecoin usage. Countries like Brazil, Argentina, and Venezuela are turning to dollar-pegged digital assets as hedges against inflation and unstable local currencies.
- In Brazil, 90% of crypto activity is tied to stablecoins, according to the country’s Central Bank president.
- In Argentina, where inflation has exceeded 100%, stablecoins dominated crypto purchases in 2024: USDT (50%) and USDC (22%).
- A Bitso report showed stablecoins made up 39% of all crypto purchases across the region in 2024.
- In Venezuela, where inflation reached 229% in May 2025, stablecoins are widely used for everyday expenses, including groceries and salary payments.
- Chainalysis data found that stablecoins accounted for 47% of all crypto transactions under $10,000 in Venezuela.
Even Bolivia, once resistant to crypto, has shifted its stance. After lifting a long-standing ban in June 2024, Bolivian banks can now handle Bitcoin and stablecoin payments, and in July 2025, the Central Bank of Bolivia signed a partnership with El Salvador to advance crypto adoption.
Key Challenges Ahead
While Nubank’s trial is ambitious, it faces several roadblocks:
- Regulatory and compliance issues related to classifying and taxing stablecoins.
- Liquidity and peg maintenance risks, despite being dollar-backed.
- Operational complexity in converting stablecoins to fiat for merchant payments.
- Consumer protection, including fraud prevention and transparency.
Nubank has yet to confirm which stablecoins will be used in the trial or when the pilot will officially begin. It’s also unclear whether this initiative will expand beyond Brazil to other markets like Mexico and Colombia.
CoinLaw’s Takeaway
In my experience covering digital finance, this move by Nubank is a big deal. It’s not just about offering another payment option. It’s about making blockchain finance real for millions of everyday users in a region where inflation has made stablecoins essential. What stands out is Nubank’s scale. If they can make this work, it could set the tone for banks across the globe. I found the timing especially smart too, given the regional appetite for digital dollars. The challenges are real, but the potential is game-changing.
