In the final episode of Season 1 of Stable Talks, Caio Barbosa welcomes Bárbara Espir, Country Manager Brazil at Bitso, to explore how stablecoins are evolving from a speculative asset into real infrastructure for payments across Latin America.
Bárbara shares her journey from Stanford and PayPal to leading Bitso’s expansion in Brazil, and gives an insider perspective on launching local stablecoins like MXNB and BRL1. The episode dives deep into market-specific use cases, regulatory dynamics, and Bitso’s new initiatives to drive stablecoin adoption and public-private collaboration in the region.
🎧 Listen to the full episode below or read on for the main highlights of the conversation.
Highlights from the conversation
1. Local Markets, Local Use Cases
“Each Latin American market has unique drivers for stablecoin adoption — from inflation to remittances to regulatory clarity.”
— Bárbara Espir
Brazil: B2B payments, import/export, cost-sensitive use cases
Argentina: dollarization and salary preservation
Colombia: OTC arbitrage opportunities
Mexico: high-volume remittances, especially in the US-Mexico corridor
2. Issuing Local Stablecoins: MXNB and BRL1
“Our motivation with MXNB and BRL1 was to solve real local problems, not just launch another token.”
— Bárbara Espir
Why Bitso built its own stablecoins
Infrastructure vs. speculative asset: changing the narrative
Collaboration with players like Foxbit and Kinetix in the BRL1 consortium
3. Stablecoins and CBDCs: Complementary Roles
“CBDCs like Drex are state infrastructure. Stablecoins fill other gaps — and both can coexist.”
— Bárbara Espir
Differences in use cases and flexibility
Why stablecoins enable broader adoption and innovation
Bitso’s outlook on working with regulators, not against them
4. Driving the Ecosystem: The Push and the Stablecoin Conference
“We need more structured collaboration — that’s why we created The Push and are hosting the first Stablecoin Conference in LatAm.”
— Bárbara Espir
The Push: acceleration for crypto and stablecoin builders
The Stablecoin Conference: fostering dialogue between innovators and regulators
Bitso’s vision of thought leadership in Latin America
Stablecoins: From Product to Infrastructure
This episode wraps up the first season of Stable Talks by showing how stablecoins are no longer just digital assets — they are the connective tissue for real-world finance in emerging markets. Bárbara’s perspective reinforces the need for local context, public-private synergy, and thoughtful regulation to scale adoption sustainably.
“Stablecoins let us rethink how value moves — fast, programmable, and without borders.”
— Bárbara Espir (Bitso)
What is Bitso's strategy for stablecoins in Latin America?
Bitso is one of Latin America's largest crypto platforms, processing over $25 billion in volume. Its strategy includes issuing local currency stablecoins like MXNB (Mexican peso) and BRL1 (Brazilian real), expanding B2B payment services through Bitso Business, and driving stablecoin adoption through partnerships with companies like Lumx. Bitso sees stablecoins as the central engine of the region's digital economy.
What are MXNB and BRL1 local currency stablecoins?
MXNB and BRL1 are stablecoins pegged to the Mexican peso and Brazilian real respectively, issued through Bitso's subsidiary Juno. These local currency stablecoins solve real problems: reducing FX costs for domestic transactions, enabling programmable local payments, and creating a hybrid ecosystem where dollar-pegged and local stablecoins coexist and interoperate with traditional payment systems.
How does stablecoin adoption differ across Latin American countries?
Each market has unique drivers: Brazil focuses on B2B payments, import/export, and cost-sensitive corporate use cases. Argentina is driven by dollarization and salary preservation against inflation. Colombia sees OTC arbitrage opportunities. Mexico has high-volume remittances, especially in the US-Mexico corridor. These diverse needs create a rich ecosystem where different stablecoin solutions thrive in each market.
Why is public-private collaboration important for stablecoin adoption in Latin America?
Public-private collaboration is essential because stablecoin adoption requires both regulatory clarity and technological innovation. Governments need industry input to craft effective regulations, while companies need clear rules to build compliant products. In Latin America, initiatives like Brazil's Central Bank consultations and Mexico's fintech licensing demonstrate how collaboration accelerates responsible adoption while protecting consumers and financial stability.
