Stable News is Lumx's weekly curation dedicated to tracking the major moves in stablecoins, digital infrastructure, and the future of global payments.
Today's edition comes directly from Mexico, condensing a full week of conversations held at Bitso Business's second Stablecoin Conference, on June 15 and 16 in Mexico City.
Lumx was there with Caio Barbosa (CEO), Nathaly Diniz (CRO), and Pedro Delgado (Head of Content and Partnerships). Caio also served as a correspondent for BP Money. And it was in that role, with time to talk to the people doing the building, that it became clear, conversation after conversation, just how much the market has leaped forward in a single year.
A year, a different tone
The shift was already present on the main stage from the opening moments. Where the first edition was about potential and prospects, this time the feeling was of people arriving to show results. Daniel Vogel, CEO and founder of Bitso, opened the event with the numbers from the report the company launched on the spot, the Stablecoin Landscape in Latin America: First Half of 2026, now in its second edition, drawn from the flows of more than 10 million users and roughly 1,900 institutional clients.
The number that stands out most is on the institutional side. Stablecoin volume on Bitso Business grew 81% in one year, and the report is careful to show that the nature of that usage has also shifted, toward operational infrastructure, supporting real-time settlement, treasury management, and liquidity for cross-border flows. The profile of new entrants reinforces the moment: 60% of new clients come from financial institutions such as banks and licensed payment providers, another third from real-economy companies, and only a small slice from the crypto-native firms that once dominated the base.
On the retail side, the movement is equally symbolic. For the first time, digital dollars surpassed bitcoin as the most purchased asset by Bitso users in the region, 40% of purchases in 2025 versus 18% for bitcoin. And the reason says a lot about how people have begun using digital dollars as a store of value and a gateway to global markets, not as a chip to rotate into other crypto assets. The report calls this digital dollarization, a version that happens instantly, at low cost, and without needing a foreign bank account.
There is a third signal, quieter than the others. Adoption has stopped concentrating in a single niche. Traders and OTC desks remain the largest group, now accounting for more than half the base, but stablecoins have spread into payments, remittances, and even gaming. As the report summarizes, the question has shifted from who uses stablecoins to how many different sectors have already integrated them into daily operations.
It was Bitso's COO, Imran Ahmad, who gave this convergence a name: HyFi, or Hybrid Finance, the point at which traditional markets and stablecoins stop being two separate worlds and begin operating as one. Looking at the companies, sponsors, and panelists in the room, that convergence was genuinely visible.
What was heard in the corridors
Between panels, at the Lumx stand, and in conversations across the floor, the team spread through the conference to exchange ideas with those doing the building. It was in those conversations that the HyFi concept gained texture. The highlights are gathered below.
The first conversation was with Ivan Torroledo Peña, co-founder of Littio, a neobank that uses stablecoins to bring international financial products to people living in Latin America's emerging economies, from multi-currency dollar and euro accounts to cards for spending abroad. Littio started in Colombia, is already entering Mexico and Argentina, and has its eye on Brazil. For Ivan, the biggest leap of the past year was not technological but perceptual: traditional infrastructure partners have finally started treating the technology as an ally.
"I see changes ranging from regulation to how people in traditional markets perceive stablecoins, and in how companies are more open to working with them, just as users are more open to understanding the technology and its benefits."
In a conversation with Cactus Raaza, CEO Americas at B2C2, a global market maker providing liquidity to exchanges, investors, and retail platforms from Asia to the Middle East, Europe to the Americas, the reading was more direct: stablecoins have become the preferred way to move value across countries, from remittances to peer-to-peer payments, and that is the rail the payments industry is migrating toward. It is no coincidence that in Bitso's report, money transmitters and payment aggregators appear side by side with OTC desks, a signal that the same rail serves capital markets and real-world payments simultaneously.
James Ross, Director LATAM at Utila, operates behind the scenes. His company is the wallet infrastructure that sits beneath stablecoin operations, handling wallet creation and security alongside connections to compliance, liquidity, and permissions. Seeing the operation from below, he brought the most striking geographic angle: the adoption map is opening up. Beyond the usual "big four" of Brazil, Mexico, Argentina, and Colombia, markets like Venezuela, Bolivia, and Central America are beginning to move, driven more by macro context than by technology. A new wave, in his words.
Nathaly Diniz, Lumx's CRO, spoke with Thomaz Teixeira from BRL1 Network, which issues a stablecoin backed by the Brazilian real. The proposition is to give anyone looking to move between the crypto world and international use access to a simple digital version of the real, via global protocols. When asked about the biggest challenge, he was direct: the bottleneck is still education. For Thomaz, many people look at the technology with a kind of bias, as if it were something too distant and too new, when in reality it is simply a more straightforward way to use money. The regulatory clarity Brazil has been building, in his view, has already begun to bear fruit and is helping unlock that conversation.
Another relevant exchange was with Henrique Teixeira, Global Head of Payments Partnerships at Mysten Labs, the team behind the Sui network. The origin is curious: the group started inside Facebook, on the old Libra project, then spun out to move faster on its own. Today it brings together its own stablecoin (Sui USD), the Sui blockchain, and the Slush wallet, with a focus on privacy, trading, and cross-border payments. Henrique pointed to the GENIUS Act as the watershed moment of the past year, the point at which banks and payment companies began treating stablecoins as a genuine payment method.
"With the GENIUS Act there was a significant evolution, with more banks, financial institutions, and payment companies starting to pay attention to the market. From here, I believe the market will continue to grow and become a mainstream product."
For him, the next chapter turns on two movements. First, stablecoins that go beyond the dollar, issued in local currencies as well. Second, the race for on- and off-ramp partners with direct access to local payment rails, like Pix in Brazil and SPEI in Mexico, to solve the last leg of the payment instantly.
What Lumx brought back
Not by coincidence, it was precisely that last leg that Lumx brought to the conference. The company had a stand in the Push Village area, running live demos of its operations, including the end-to-end MXN leg via SPEI, from collection through conversion to settlement in a single flow. After hearing so many people describe the bottleneck, demonstrating the solution running live was the most direct way to show where Lumx fits in this story.
The Bitso report closes with a line that captures the moment: what we are observing is no longer market validation, but convergence at real scale. And it describes well what two days on the ground made clear, traditional institutions bringing regulatory maturity, scale, and trust; and the open, programmable infrastructure of stablecoins bringing speed. Latin America, for well-known reasons, has consolidated itself as the great proving ground for that combination.
The best synthesis came in the final panel, from Lucas Rangel, Digital Assets Director at BTG Pactual. For him, in five years the conference itself might change its name, because the fusion of these worlds will reduce the conversation to its most common denominator: making it more practical and accessible to move money around the world.
After another strong year delivered by Bitso Business, establishing itself as one of the unmissable events on the calendar, Lumx already confirms interest in the next edition, with genuine curiosity about what landscape the conference will find when it gets there.
Worth Reading
Outside the stablecoin universe, but squarely within a question that is taking up more and more space on digital marketing agendas: how to appear in AI answers. Ahrefs analyzed 137,000 sites to test one of the trendier tactics, the llms.txt file, and the result is a bucket of cold water. Of all the files published, 97% received not a single visit in May. Not from a bot, not from a person.
The numbers remain uncomfortable for anyone who bet on the tactic. About 28% of sites already publish the file, even though no major AI platform has committed to reading it, and nearly all the sparse traffic that does exist comes from bots, with coding agents ahead of AI search crawlers. Even Google's John Mueller summed up llms.txt as a "temporary crutch" for coding tools, not something that affects search. It is a read that deflates much of the current conversation about AI visibility.
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Story of the Week
At a moment when every brand wants to turn community into an acquisition channel, Hinge decided to do the opposite.
The dating app, on track to become a $1 billion business by 2027, has maintained since 2023 an initiative called One More Hour, which funds social groups and grassroots organizations in cities like New York, Los Angeles, and Atlanta. More than $2 million has been donated so far, with another $1.5 million planned for this year. The detail that catches the eye is what Hinge asks for in return: no app downloads, no mandatory promotion.
The logic, according to CMO Tamika Young, is that community should not be treated as a marketing channel. The backdrop is sobering: the US Surgeon General estimates that Gen Z spends a thousand fewer hours in in-person social interaction per year than their peers two decades ago. Rather than riding that loneliness with another campaign, Hinge decided to fund the people creating real encounters, without claiming the credit.
It is a case that says less about dating and more about the difference between sponsoring a community and trying to own it. For anyone building a brand in any sector, including stablecoins, it is a distinction worth keeping.
→ Read
Further Reading: regulation, banks, and stablecoins
A few moves that marked the week:
The Bank of England loosened its rules, replacing individual holding limits with a £40 billion issuance cap per stablecoin
The NYDFS (New York) and the European Banking Authority joined forces to supervise stablecoins on both sides of the Atlantic
Chainlink joined Project Pangea, with banks from Europe and Korea, to test FX settlement using euro and won stablecoins
Agustín Carstens, former BIS chief and longtime sector critic, softened his tone and backed coexistence between stablecoins and fiat currency
According to Bitwise, traditional market advisors want to hear more about stablecoins and tokenization than about bitcoin
The HyFi concept that emerged from the conference captures what the market is already living in practice, the fusion of traditional infrastructure and stablecoins has stopped being a thesis and become an operation.
This was Stable News, a weekly curation to keep you up to date on the latest stablecoin developments around the globe.
