Latin American Central Banks Advance CBDC Plans to Counter Stablecoin Growth
🔑 Key Takeaways Central banks in Latin America accelerate studies and pilots of Central Bank Digital Currencies (CBDCs). Goal: reduce dependency on dollar-backed stablecoins dominating the region. Potential to reshape financial sovereignty and payment infrastructure. 🗞 Main Story Across Latin America, central banks are stepping up their exploration of Central Bank Digital Currencies (CBDCs) as dollar-backed stablecoins increasingly dominate cross-border payments and domestic remittances. Countries like Brazil, Mexico, and Argentina are advancing pilot projects, while Chile and Colombia are in early feasibility phases. According to the Inter-American Development Bank, more than $150 billion in remittances entered the region in 2024, with an estimated 30% already conducted via stablecoins , bypassing traditional banks. This has sparked alarm among regulators who fear that the growing reliance on U.S. dollar-denominated tokens undermines monetary...