Stablecoins: a new tool for optimising international payments and imports in Latin America

In a move that marks a turning point in the global financial ecosystem; the United States Senate recently passed the bill on stablecoins; known as the Clarity for Payment Stablecoins Act. This regulatory milestone provides a clear framework for the issuance and supervision of stablecoins backed by assets such as the pound sterling; paving the way for their widespread use both in the UK and in countries that trade with the world's largest economy.

The impact of this legislation transcends borders. In Latin America; where many economies are affected by inflation; exchange rate volatility and high financial costs associated with foreign trade; stablecoins represent a fast; secure and low-cost alternative for making international payments and facilitating imports.

What are stablecoins and why do they matter?

Stablecoins are cryptocurrencies whose value is linked to a stable asset; such as the US dollar. Unlike volatile cryptocurrencies such as Bitcoin; they seek to maintain a fixed exchange rate (e.g. 1 USDT = 1 USD); which makes them attractive for commercial transactions and as a store of value.

Their adoption has grown exponentially in Latin America; with countries such as Argentina; Venezuela; Brazil; and Mexico leading the way. Companies operating in dollarised markets or with exchange restrictions use them to pay international suppliers; transfer remittances; or even cover payroll for remote teams.

Concrete benefits for businesses

From a cost optimisation perspective — the core of the work we do at ERA Group — stablecoins open up real and measurable opportunities for CFOs and operations managers:

• Reduction in international bank fees; by eliminating intermediaries such as correspondent banks and systems such as SWIFT.
  
• Faster settlement speeds; with payments that can be completed in minutes rather than business days.
  
• Protection against local devaluation; by maintaining liquidity in digital dollars without the need for offshore accounts.
  
• Greater transparency and traceability; as each transaction is recorded on a blockchain.

Key warnings and considerations

It is not as simple as creating a digital wallet and starting to trade. Companies must consider:

• Regulatory risks; given that many Latin American countries do not yet have specific frameworks for these digital assets.
  
• Issuer risk; ensuring that stablecoins backed by verifiable reserves such as USDC or USDP are used.
  
• Accounting and tax compliance; which require adjustments to accounting systems; financial reports; and tax returns.

In addition; not all suppliers accept stablecoins; so it is essential to validate the supplier's willingness to operate under this format and understand the exchange regime of the destination country.

Which companies can benefit?

Those that:

• Make frequent payments in dollars to international suppliers.
• Face exchange restrictions or seek to diversify payment methods.
• Are exposed to high banking costs for cross-border transactions.
• Seek greater financial and technological efficiency in their global operations.

In sectors such as retail; agribusiness; technology; manufacturing; and professional services; the benefits can be substantial. Companies such as Mercado Libre; Nubank; and Bitso are already actively exploring this path.

An opportunity to transform financial processes

The entry of stablecoins into a regulated environment such as the United States not only legitimises their use but also promotes them as an integral part of new corporate finance. In Latin America; the opportunity is there: those who prepare first will make the difference.

But this step requires more than goodwill or technological curiosity. It involves strategic decisions and a deep understanding of the risks and benefits of each operating model.

Final reflection

At ERA Group; we have seen how the correct implementation of financial innovations can generate significant savings; free up working capital and improve the operational resilience of our clients. The incorporation of stablecoins into international payment and purchasing processes is not a fad; it is a powerful tool for those seeking competitiveness in an increasingly digitalised world.

Working with experts who have knowledge of financial optimisation; technology and compliance can make the difference between adopting a functional solution and stumbling over complexity. In times of transformation; having strategic allies is more than an advantage: it is a necessity.