DLocal Bets Big on Stablecoins: A Hidden Payments Power Play?

dLocal Limited’s latest earnings report for Q2 2025 highlights a period of strong financial performance, business expansion, and strategic enhancements, although it is tempered by certain macroeconomic risks and strategic decisions impacting the bottom line. On the positive side, the company posted record results across its key financial metrics. Total Payment Volume (TPV) reached an all-time high of $9.2 billion, marking a 53% year-over-year increase. Revenue and gross profit also hit record levels at $256 million and $99 million, respectively. The company reported a third consecutive quarter of more than 50% year-over-year growth in revenue and gross profit, reflecting robust business expansion and operational efficiency. Adjusted EBITDA rose to $70 million, showcasing a 64% year-over-year improvement, indicating disciplined cost management and operational leverage.