Are Stablecoins a Good Option for Exporters in Colombia?

Colombia’s exporters have long faced hurdles with cross-border payments Colombia—from slow settlement times and unpredictable fees to the volatility of the local currency. According to recent data, over 40% of exporters list slow payments and currency risk among their top operational pain points (ProColombia, 2024). Colombia now ranks fifth in Latin America for crypto adoption, with approximately $25 billion in crypto transactions recorded between July 2023 and June 2024 (Invezz, 2024).

This surge is driven in part by exporters’ desire to shield earnings from peso volatility and accelerate settlement times. As global businesses seek faster, cheaper, and more transparent ways to move money, platforms like Mural Pay are bringing stablecoins Colombia to the forefront as a practical solution for exporters. But do stablecoins truly deliver on their promise for Colombian businesses—and what should exporters know before making the switch?

What Are Stablecoins and How Do They Work for Exporters?

Think of stablecoins as the digital bridge between the speed of crypto and the stability of the US dollar. A stablecoin is a cryptocurrency pegged to a reserve asset—most often the USD—and backed 1:1 to ensure price consistency. The most popular options for Colombian exporters are USDC (USD Coin), USDT (Tether), and DAI, all of which operate on major blockchain networks like Ethereum and Tron, offering near-instant settlement (Research Dossier §3).

Stablecoins can be used by exporters to issue invoices in USD, accept payments from international clients, and access a transparent, trackable payment rail that bypasses traditional banking hours. On/off-ramps—platforms that convert stablecoins to local currency—play a vital role in making these assets usable for real-world business.

Recent innovations also include peso-pegged stablecoins, such as nCOP and COPW, which are designed to facilitate remittances and local settlements—though widespread adoption of these is still in its early stages (Coindesk, 2023; Ledger Insights, 2024). Fintechs like Mural Pay and Bitso are now among the most commonly used on/off-ramp providers for Colombian businesses.

For clarity on these and other payment terms, see our glossary.

The Real-World Benefits—Why More Colombian Exporters Are Using Stablecoins

The appeal of stablecoins for exporters Colombia comes down to three core benefits: speed, cost, and transparency. Latin America as a whole has seen a surge in stablecoin use, with Colombia among the top five adopters in the region.

Stablecoin payments typically settle within minutes, compared to the 1–5 business days required for traditional wire transfers. Fees are drastically lower as well—averaging between $0.10 and $2 per transaction, versus $30–$50 for SWIFT wires (Bloomberg Línea, 2024). According to a recent survey, 60% of Colombian SMEs are open to using stablecoins for exports (La República, 2024).

“We see growing demand among Colombian SMEs for faster, dollarized payments—stablecoins fill that gap,” said Valeria Gutiérrez, Bitso Colombia Country Manager (Bitso, 2024). The benefits don’t end there: stablecoins also provide improved transparency for compliance and audit trails, helping businesses stay on top of requirements. In addition, blockchain records enable real-time tracking and can support programmable payments for recurring business needs.

One IT services exporter, for example, switched from SWIFT to USDC payments via Bitso and saw settlement times drop from 3–5 days to just one hour, with transaction fees slashed from $40 to under $2.

For a deeper look at how payment speed impacts exporters, see our post on how Colombian exporters can speed up cross-border payments.

Key Risks, Regulatory Gaps, and Compliance Realities

It’s a question nearly every exporters Colombia faces: Is it safe—and legal—for businesses to use stablecoins for international trade? While stablecoins are not illegal in Colombia, the Superintendencia Financiera de Colombia (SFC) has yet to establish a comprehensive legal framework. Instead, the SFC created “La Arenera,” a regulatory sandbox that allows fintechs to pilot crypto innovations under close supervision.

The SFC currently prohibits Colombian banks from holding or directly facilitating crypto transactions, making fintech partnerships essential for compliant stablecoin operations. However, as Nicolás Rodríguez of Baker McKenzie explains, “The regulatory sandbox has enabled responsible experimentation, but businesses should not assume legal certainty.”

Tax compliance is another key issue. DIAN, Colombia’s tax authority, considers cryptocurrencies as assets for tax purposes and requires exporters to report all income derived from their use (ICLG, 2025). However, DIAN’s guidelines for crypto taxation are evolving, so exporters should monitor regulatory updates regularly.

Exporters must also implement their own KYC and AML procedures, as most stablecoin transactions occur outside traditional banking oversight.

Real-world risks include on/off-ramp challenges: one Colombian coffee exporter received stablecoins for a major shipment but struggled to convert large sums into COP, as several banks flagged or blocked the deposits.

For more on compliance, see our cross-border payment compliance tips for Colombian SMEs.

Stablecoins vs. Traditional Banking—A Side-by-Side Comparison for Exporters

When comparing stablecoin vs wire transfer Colombia, the differences are stark. Here’s how the two options stack up:

In a recent industry survey, more than 40% of Colombian exporters cited slow payment processing and currency volatility as their biggest pain points (ProColombia, 2024).

Even Colombia’s central bank has piloted blockchain-based cross-border payment systems, highlighting stablecoins’ growing institutional acceptance.

For a practical guide on how to optimize your payment flows, visit our guide to receiving USD payments as a business in Colombia.

Mini Case Study—How Mural Pay Transformed Export Payouts in Latin America

Batch payments are a game-changer for export businesses handling multiple cross-border transactions each month. An Argentina-based virtual assistant agency managing over 80 monthly payouts switched to batch USDC payments via Mural Pay. The result? A 70%+ reduction in processing time and costs, with faster, more reliable payments for contractors across the Americas (Mural Pay, 2024). This also helped protect contractors’ earnings from local currency inflation—a benefit Colombian exporters can leverage too.

Colombian exporters can achieve similar savings and efficiency gains by adopting batch stablecoin payments, especially as platforms like Mural Pay now support operations in 170+ countries and 40+ currencies.

Key Takeaways and Best Practices for Colombian Exporters

Too many exporters Colombia focus on the allure of stablecoins without fully considering compliance and future trends. Here’s what matters most:

Key takeaway: Use only well-audited, USD-backed stablecoins (like USDC or USDT), maintain rigorous KYC/AML controls, and always report crypto-derived income to DIAN. Exporters should also review their banks’ policies, as some remain cautious about accepting crypto-related deposits, especially for larger sums.

Peso-pegged stablecoins (nCOP, COPW) are emerging but not yet widely adopted. Staying informed about regulatory developments and working with reputable platforms like Mural Pay can help mitigate risks and unlock new opportunities for Colombian exporters.

As one regional fintech leader recently observed, “Stablecoins will play an increasingly central role in the evolution of cross-border payments in Latin America, but their success depends on responsible use and regulatory clarity.”

For a full list of supported stablecoins, visit our resource page.

References

• Bitso. (2024). Cómo recibir pagos internacionales con stablecoins en Colombia. https://blog.bitso.com/

• Invezz. (2024). LatAm crypto trends 2024: Brazil regulates stablecoins, Colombia ranks fifth in crypto adoption. https://invezz.com/news/2024/12/25/latam-crypto-trends-2024-brazil-regulates-stablecoins-colombia-ranks-fifth-in-crypto-adoption/

• ICLG. (2025). Fintech Laws and Regulations: Colombia. https://iclg.com/practice-areas/fintech-laws-and-regulations/colombia

• Ledger Insights. (2024). Bancolombia launches stablecoin crypto offering. https://www.ledgerinsights.com/bancolombia-colombias-largest-bank-launches-stablecoin-crypto-offering/

• La República. (2024). Exportadores colombianos y el auge de los stablecoins. https://www.larepublica.co/finanzas/exportadores-colombianos-y-el-auge-de-los-stablecoins-3552087

• ProColombia. (2024). Encuesta de exportadores: desafíos y oportunidades. https://www.procolombia.co/