Nubank, Latin America’s biggest digital bank, will test dollar stablecoin payments via credit cards, a move Vice Chairman Roberto Campos Neto says shows how fast blockchain is forcing banks to bridge into the crypto world.
At Meridian 2025, Roberto Campos Neto stressed that blockchain will be critical to linking digital assets with traditional banking, enabling tokenized deposits while preserving credit intermediation. He pointed out that central banks are already struggling with the surge of crypto adoption, and stablecoins, particularly dollar-pegged ones, aare spreading fastest in emerging markets.
Their appeal lies in easy access to the dollar, use in economies with non-convertible currencies, and demand in politically unstable regions. Though often used as a store of value today, Campos Neto noted their role is evolving toward broader transactional use.
Nubank’s pilot will test dollar-backed stablecoin payments through credit cards, with plans to integrate the technology across its broader services. Roberto said the initiative fits the bank’s strategy of building a seamless financial ecosystem powered by artificial intelligence and blockchain, while also highlighting the geopolitical stakes: most stablecoins are dollar-pegged, fueling demand for U.S. Treasuries and raising alarms in Europe.
He warned that euro-backed stablecoins may soon emerge, though the entrenched dominance of the dollar will be difficult to dislodge.
By testing dollar-backed stablecoin payments, Nubank is signaling how quickly traditional banking may converge with blockchain finance. If successful, the move could accelerate stablecoin adoption in Latin America, positioning the dollar-linked assets not only as a store of value but also as an everyday payment tool in emerging markets.
