Vesseo, a Stellar-based digital wallet by SDF subsidiary Sunship, reported 282% growth in monthly active users and 186% growth in transactions year-over-year, with Argentina accounting for 93% of its user base as high inflation drives adoption across Latin America.
The Stellar Development Foundation announced strong growth metrics for Vesseo, a non-custodial USDC wallet built on Stellar. From Q2 2023 to Q2 2024, Vesseo grew monthly active users by 282% globally and monthly transactions by 186%. Argentina leads adoption with 93% of the user base, followed by other high-inflation LATAM countries including Colombia, Nicaragua, Mexico, Paraguay, and El Salvador. The wallet enables users to store, send, receive, and convert USDC to local currencies with low fees, addressing macroeconomic challenges in regions with currency instability. Vesseo's success is attributed to its user-centric design and local partnerships that integrate with traditional banking and local payment systems like Mercado Pago.
