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Grassroots Crypto Adoption in Latin America Surges as Users Flock to Central Exchanges

According to a new study, cryptocurrency adoption grows in Latin America as users leverage digital assets to offset currency devaluations and inflation. A new Chainalysis report shows a growing adoption rate in Latin America following a surge of new use cases on a country-country basis and an increased demand for centralized exchanges. The region has become the seventh largest in terms of its crypto economy accounting for 7.3% of crypto values received between July 2022 and June 2023. Economies in the region leverage cryptocurrencies for remittances, and global payments with many using Bitcoin and stablecoins as a hedge against inflation.

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