Cryptocurrency market research and analysis firm Kaiko has found that cryptocurrency users in Latin America prefer stablecoins to bitcoin. In its latest Latin America market report, released in June, 40% of transactions involved USDT. Similarly, nearly half of transactions involving the Brazilian real also involved stablecoins, which Kaiko explained is due to the instability of the Brazilian currency and inflation in the region. The report analyzed data from seven cryptocurrency exchanges offering trading pairs, including Kucoin, Binance, Mercado Bitcoin, Bitso, Htx, Okx, and Bitfinex.