Stablecoins beyond the hype: what’s actually being built in Latin America

Stablecoins are no longer a niche topic, they’ve become a strategic piece of the emerging global financial infrastructure. But beyond the headlines, adoption charts, and future promises, one question matters most: who is turning this thesis into real products, with legitimate use cases and measurable impact?

The answer, increasingly evident in Latin America, includes Lumx.

Founded in 2022, Lumx began its journey in the crypto economy with Web3 and NFT initiatives, but that initial path prepared the company for something much larger.

“We realized the real value of the infrastructure we were building wasn’t in engagement campaigns, but in solving real financial frictions,”

says Caio Barbosa, CEO of Lumx.

That shift in mindset led to a learning curve that spanned the tokenization of real-world assets (like tickets, real estate, and carbon credits) and eventually arrived at the current stage: becoming the orchestration layer for international payments using stablecoins for companies operating from Latin America to the world.

From Generic Infrastructure to Specialized API: The Strategic Pivot That Gained Traction

For a while, Lumx offered a modular set of blockchain tools. It was a flexible stack, but lacked focus. “Our infrastructure could be used for almost anything, but that flexibility without a specific product created friction. Companies wanted plug-and-play solutions, not a box of loose parts.”

That’s when demand patterns made things clear: over 90% of requests were focused on payments. From freelancers to fintechs, importers to global platforms, everyone was looking for a faster, cheaper, and more stable way to move money across borders using stablecoins.

The strategy shifted: Lumx began developing a single product, laser-focused on B2B stablecoin payments, offering APIs that integrate local rails like Pix (Brazil), SPEI (Mexico), and on-chain transfers, supporting use cases like global treasury, cross-border supplier payments, and settlement flows.

What Sets Lumx Apart in a Sea of Similar Solutions

The wave of stablecoin adoption attracted many new companies, many with technically similar offerings. So why has Lumx stood out?

1. Compliance as Infrastructure, Not a Barrier
   Lumx is on track to become one of the first VASPs regulated in Brazil, and is securing licenses in other jurisdictions. But more importantly, compliance is built into the product’s architecture: automated audits, financial reporting, and tools to help clients generate their own internal compliance, all coded from the ground up.

   
   

2. Product Experience Beyond the API
   It’s not just about “sending stablecoins” from one country to another. Lumx built a full operating system for companies managing global operations: well-documented APIs, average integration time of 5 days, user-friendly dashboards for non-technical teams, and support for reconciliation and regulatory reporting. A true financial OS, designed for usability.

   
   

3. Direct Access to the Right Rails
   Instead of relying on intermediaries, Lumx invests in direct connections with local payment rails and liquidity providers. This gives it greater operational predictability and the ability to serve key markets like Brazil-China, Brazil-Mexico, and Brazil-USA, where FX and integration challenges are more complex.

These differentiators attracted strategic partners. In 2023, BTG Pactual joined Lumx’s cap table, strengthening ties between crypto and traditional finance. In 2024, Lumx was selected for Bitso’s acceleration program, one of the largest platforms in the region.

But What Problems Are These Companies Actually Solving with Stablecoins?

And how does this connect to the transformation of Latin America's financial infrastructure?

For a long time, stablecoins were associated with FX hedging, individual remittances, and use in informal markets. That’s changed. Today, the largest volumes of stablecoins in circulation come from corporate operations.

The reality on the ground is clear: companies are replacing expensive, complex systems with stablecoin-based solutions that offer liquidity, speed, and efficiency.

Four Use Cases Already in Production

1. Global Treasury with Stablecoins
   Companies operating in multiple jurisdictions usually need to pre-fund local accounts for payments, a costly and inflexible model. With Lumx’s infrastructure, businesses can hold a central treasury in stablecoins (e.g., USDC) and make local payments only when needed. Fewer accounts, fewer conversions, more agility.

   
   

2. Import/Export with Digital Settlement
   The bulk of Brazil’s FX market revolves around foreign trade. Exporters to Asia, especially China, have already realized suppliers there accept and prefer stablecoins. Lumx acts as a bridge, enabling Brazilian importers to convert BRL into stablecoins and pay directly, with full traceability and efficiency.

   
   

3. B2B Fintechs and Global Corporate Cards
   Despite the strength of Brazil’s banking system, there’s still a gap: accessible global accounts and corporate cards with USD balances. Lumx is building the foundation for fintechs to launch these offerings using stablecoins, giving Brazilian companies an easier path to operate globally.

   
   

4. Marketplaces, Platforms, and Payouts
   Global freelance platforms, e-commerces, and marketplaces face long settlement times and high costs. With stablecoins integrated into their back offices, payouts to sellers and service providers happen in minutes, with fewer intermediaries. Lumx serves PSPs and processors looking to embed stablecoins directly into their financial flows, improving payout speed and efficiency.

What About the End User?

Where do they fit into this picture?

Brazil doesn’t yet show the same visible penetration of USDT-based payments seen in Argentina or Venezuela. Why? Because local infrastructure works, Pix solves domestic payments, and the economy is relatively stable. But that doesn’t mean personal stablecoin use isn’t growing.

Products like USD accounts backed by stablecoins, international prepaid cards, and self-custodial wallets with yield are gaining traction among Brazilians who travel, work in crypto, or seek alternatives to traditional banks. The case of Litio in Colombia, offering COP, USD, and EUR accounts with automatic stablecoin yield, is a model that could be replicated in Brazil.

What’s Next

Lumx is actively executing its roadmap, with upcoming developments including:

• Expansion of payment rails in Asia, especially China and Hong Kong, to ease settlement for exporters.

• Launch of yield-bearing stablecoin accounts, adhering to the regulatory limits of each market.

• Integration of cards and insurance tied to stablecoin balances, delivering a real banking experience built on digital, self-custodial infrastructure.

More than riding the hype, Lumx chose the harder path: building solid infrastructure, aligned with regulation, real business pain points, and the operational demands of companies moving billions daily.

At the end of the day, the future of payments won’t be defined by who talks most about blockchain, but by who can make its use invisible, reliable, and efficient.