Introduction

On centralized exchanges in Colombia, an overwhelming 99% of COP purchases flow into stablecoins—signaling that for most users, digital dollars are the default on‑ramp to crypto.

At the same time, USDC’s share of the stablecoin market has climbed to 30% even as USDT remains the dominant token—evidence that competition at the top is intensifying.

This matters in Colombia because real‑economy forces are pulling more households toward dollar‑linked rails. Record remittance inflows reached $11.848 billion last year, buoying incomes while inflation has been easing—conditions that keep demand for stable, dollar‑denominated value high.

Policy plumbing is catching up, too. Colombia’s financial supervisor closed its “La Arenera” pilot after testing bank–exchange cash‑in/cash‑out, with lessons meant to inform a future framework for safer on/off‑ramps—an important signal for mainstream usage of stablecoins and fiat bridges in the country according to the SFC.

In what follows, we unpack September’s stablecoin landscape in Colombia—why it’s accelerating, how policy and payments rails are evolving, and what teams need to watch next.

Regulatory and Tax Landscape (2023–2025): Lessons from La Arenera

Colombia’s crypto sandbox reached a pivotal endpoint when the financial supervisor closed its bank–exchange pilot in June 2024 after testing COP cash‑in/cash‑out under enhanced controls. The stated goal: translate empirical findings into clearer rules for safer on/off‑ramps.

First, the legal baseline remains firm: the central bank reiterates that cryptoassets are not legal tender in Colombia, the peso is the only currency with legal tender status, and there’s no obligation to accept crypto as payment. This anchors how supervisors evaluate products marketed as “digital dollars” and underpins consumer disclosures.

Tax clarity advanced in parallel. DIAN’s unified concept treats crypto—including stabilized payment tokens—as intangible assets for patrimony and income purposes and clarifies that selling crypto itself is generally not subject to IVA unless tied to industrial property. For operators, DIAN’s 2024 guidance adds that those whose crypto‑asset management activities represent a 20% threshold or more of gross income cannot opt into the SIMPLE regime—material for structuring payroll, remittance, or brokerage models.

Operationally, the sandbox validated that banked on/off‑ramps can run under strict traceability and SARLAFT standards, but it did not itself change licensing; exchanges remain outside the SFC perimeter pending legislation. Meanwhile, AML/CFT duties continue to apply: VASPs must file ROS and monthly reports to UIAF, with reporting triggers at USD 150/450—and maintain documentation that ties transactions to customers and use‑cases.

Taken together, Colombia’s stance is pragmatic: pesos remain the unit of account and legal tender, while tax, AML, and sandbox lessons create a workable pathway for compliant stablecoin rails as lawmakers shape the next phase.

Key Takeaways:

  • Legal status: Crypto is outside legal tender; disclosures must avoid implying peso or sovereign‑backed equivalence.
  • Tax treatment: DIAN classifies crypto as intangible property; sales are generally IVA‑exempt, but services/intermediation can be taxable.
  • Compliance horizon: UIAF reporting and SFC sandbox lessons set operational guardrails; licensing for VASPs awaits legislative action.

Adoption Snapshot 2024–2025: Stablecoins Lead, Remittances and Payroll Use Cases

Colombia’s crypto activity ranks among Latin America’s leaders, with Chainalysis estimating $44.2B in transaction volume—evidence that the user base has scaled beyond speculation into everyday finance.

At the point of purchase, behavior skews clearly toward digital dollars: Bitso’s retail mix shows that in Colombia, 4 de cada 10 crypto buys were stablecoins like USDT or USDC, reflecting a pragmatic preference for dollar‑linked liquidity over volatile tokens.

That demand is anchored in remittance‑heavy household economics. The central bank reported current transfers strengthened in early 2025, with remittance inflows hitting USD 3.131 millones in Q1—keeping dollarized balances relevant for savings, bill pay and local conversion.

On the enterprise side, stablecoins are increasingly used for cross‑border payouts and treasury moves, then cashed out to COP on local rails. Platforms like Bitwage have processed more than $400 million in payroll transactions, signaling that operational teams value speed, cost and settlement finality when moving USD value into Colombia.

For compliance, Colombian authorities are explicit: salary wages for employees debe pagarse en dinero de curso legal (COP). In practice, that pushes stablecoin usage toward contractor payments, cross‑border invoices, bonuses and treasury bridging—while final payroll to employees remains in pesos.

Taken together, 2024–2025 adoption in Colombia is stablecoin‑first at the retail edge, remittance‑driven at the household level, and increasingly operational in B2B payouts—within clear rules for how wages must be settled.

Key Takeaways:

  • Stablecoins are the practical entry point for Colombian users, with purchase mixes and volumes pointing to a dollar‑linked bias.
  • Remittance strength sustains real‑world demand for USD value that can be held or converted quickly into COP.
  • Payroll teams use stablecoins for contractor payouts and cross‑border flows, but salaries to employees must be settled in pesos under Colombian rules.

September 2025 Payments Milestone: Bre‑B, Interoperability, and On/Off‑Ramps

Colombia flipped on its national instant‑payments interoperability in late September, connecting banks, wallets and acquirers into one fabric. BanRep’s rollout spans 227 entities and transitions to mass operation on Oct 6—a turning point for everyday COP payments.

Bre‑B standardizes how users pay with “llaves” (phone, ID or email aliases) across participating apps via the “Zona Bre‑B,” enabling low‑cost, real‑time P2P and P2M without being trapped in a single provider’s walled garden. For stablecoin users and providers, this rail functions as the domestic last‑mile: receive digital dollars, convert to COP, and settle with any connected merchant or account through the same alias experience.

On‑/off‑ramp capacity moved in lockstep. MoneyGram chose Colombia to debut its next‑gen app—“digital dollar” balances powered by USD‑pegged stablecoins—giving households a regulated bridge from on‑chain value to local cash pickup and account deposits, launching first in Colombia. For businesses, that pairing of instant domestic settlement with global stablecoin rails shortens payout cycles and improves reconciliation between crypto inflows and COP expenses.

The ecosystem’s plumbing is also maturing. A central platform built with ACI underpins Bre‑B—BanRep called it Latin America’s first scheme forged by broad industry consensus—while bank‑affiliated ramps like Wenia add transparency to local tokens; its COP‑pegged asset uses Chainlink Proof of Reserve to attest backing. Together, these pieces reduce friction between on‑chain dollars and real‑world COP payments.

Net result: September’s go‑live turns stablecoins from a cross‑border value rail into a near‑instant spend rail in Colombia, compressing the time from receipt to usable pesos at checkout.

Key Takeaways:

  • Bre‑B’s activation links banks, wallets and acquirers, with mass operation from Oct 6—unlocking true interoperability for retail payments.
  • MoneyGram’s Colombia‑first launch adds a regulated path from USD stablecoins to local cash‑out and accounts, complementing Bre‑B’s domestic reach.
  • Infrastructure and transparency improved in tandem: ACI powers the core scheme; Wenia’s PoR‑verified COP stablecoin helps de‑risk local on/off‑ramps.

Risks, Compliance, and International Perspectives: What to Watch in Q4 2025

Dollar‑pegged stablecoins now account for about 99% of global stablecoin market share—concentration that raises the stakes as new rules, on/off‑ramps, and instant‑payment rails converge in Colombia this quarter.

For Colombia‑based teams, the near‑term risk lens starts at home. VASPs remain subject to ongoing AML/CFT duties, including suspicious‑activity and monthly transaction reporting under UIAF reporting. On tax, DIAN treats crypto (including stabilized payment tokens) as intangible assets that form part of patrimony and must be included in annual filings, so treasury and accounting workflows should capture valuation, disposal, and documentation consistently.

Cross‑border, issuers’ home‑jurisdiction rules directly shape risk. Under the U.S. GENIUS Act, permitted issuers must maintain 1:1 reserves—a clear signal to verify counterparties’ disclosures, reserve attestations, and marketing language when handling USD stablecoins. Practically, this means aligning internal approvals (treasury, compliance, legal) to the issuer framework behind the tokens you receive, hold, or convert.

Domestically, watch the payments baseline change under Bre‑B. From October 6, interoperable person‑to‑merchant payments scale nationally, raising consumer‑protection expectations (reversals, dispute flows, KYC) and intensifying competition with on‑chain rails for last‑mile settlement.

Get these three pieces right—local AML/tax controls, issuer‑jurisdiction mapping, and the Bre‑B shift—and your stablecoin operations should face fewer surprises in Q4.

Key Takeaways:

  • Local duties first: Maintain UIAF reports and treat crypto as DIAN‑defined intangible property; build documentation and valuation controls into your close.
  • Map issuer regimes: U.S. GENIUS Act standards (e.g., 1:1 reserves) shape which tokens and partners remain acceptable for payouts and treasury.
  • Prepare for Bre‑B: Interoperable instant payments reset the bar on user protections and reconciliation—plan how on‑chain inflows convert and settle on domestic rails.

Turn Stablecoin Momentum into Compliant Payroll in Colombia

With Bre‑B going live and trusted on/off‑ramps expanding, now is the time to operationalize stablecoin payouts without sacrificing governance. Bitwage helps finance and HR teams move value into Colombia with same‑day USDC/USDT or local COP, fund payrolls in crypto while paying teams in fiat, and centralize invoices, expenses, and accounting—backed by a 10‑year, zero‑breach security record and over $400M processed for 90,000+ workers at 4,500+ companies. In practice, that means compliant workflows for contractors in stablecoins and employees in pesos, plus the documentation and reconciliation rigor your audits expect.

If you’re hiring in Colombia or paying distributed teams across LatAm, don’t wait for quarter‑end crunch to upgrade your payouts and controls. See how stablecoin-to-COP flows, automated accounting, and cross‑border reconciliation come together on one platform—then run your next cycle with confidence. Signup for Crypto Payroll today!