Latin America’s Nubank Plans Dollar-Stablecoin Payments Via Credit Cards

Nubank, Latin America's largest digital bank, is preparing to pilot dollar-pegged stablecoin payments via credit cards as part of its broader efforts to integrate digital assets with traditional banking services. Vice Chairman Roberto Campos Neto, former governor of Brazil's central bank, highlighted at Meridian 2025 the critical role of blockchain technology in bridging these two financial worlds and the evolving use of stablecoins from simply a store of value to a transactional tool. Nubank, which serves over 100 million customers across Brazil, Mexico, and Colombia, has steadily expanded its crypto offerings since 2022, including Bitcoin, various altcoins, and loyalty tokens on the Polygon blockchain. The surge in stablecoin adoption in Latin America, driven by inflation and currency instability, is evident in Brazil where 90% of crypto activity involves stablecoins and in Argentina where they account for a significant share of crypto purchases. Campos Neto also emphasized the challenges banks face in accepting tokenized deposits and issuing credit backed by digital assets, signaling a transformative shift in banking practices. Nubank's pilot program could accelerate mainstream crypto adoption in the region and further position stablecoins as a key financial instrument in emerging markets.