In Cryptocurrency, Payments

Latin America has emerged as an innovation frontier for digital money, hosting the world’s first “bitcoinized” economy in El Salvador and the first Central Bank Digital Currency in the Bahamas. Whether these are one-off cases or the beginning of a blockchain transformation in payments, LatAm’s digital currency experiments will yield powerful lessons for the global financial system.

To make sense of the booming LAC crypto ecosystem, Tim Jacklich, Crypto Lead at AMI, and Lindsay Lehr, head of AMI’s Payments Practice, recently led a webinar discussion with Abraham Cobos, Crypto Strategy Lead at Bitso, Latin America’s largest crypto exchange. The panelists addressed a broad range of pressing questions in the crypto space, including:

•             Which cryptocurrency classes are gaining the most traction among LatAm consumers? (e.g., bitcoin, Ethereum, stablecoins)

•             How competitive will crypto-powered transfer tools be in the cross-border remittance space?

•             What are the most promising pathways for enabling crypto expenditures at the point of sale (e.g., crypto-linked debit cards, QR codes)

•             What lessons does El Salvador’s “bitcoinization” offer about the future of cryptocurrency?

•             How will crypto P2P applications compete with local real-time options like Pix?

The AMI team also presented original survey data on crypto uptake by LAC consumers, answering such questions as:

•             What is the profile of current LAC crypto users, and how will the next generation of crypto consumers be different?

•             What crypto use cases are most compelling to LAC consumers?

•             What concerns do LAC crypto consumers have about crypto?

•             What is the level of interest in receiving crypto-powered remittances, by country market?

•             What features and crypto integrations have the greatest potential to draw crypto-curious consumers into the ecosystem?

Scroll down to view the video of the webinar and click here to review the presentation.

Next Steps

It is becoming increasingly clear that for crypto uptake, it is not a question of if, but how and when. Companies throughout the Latin American payments ecosystem must develop strategies for the coming digital currency era. AMI’s team of seasoned payments and crypto professionals can equip your team with the powerful insights you need to compete and win amid that volatility.

Contact us to explore how our cryptocurrency market research for Latin America can deliver the answers your company needs to develop or refine your crypto strategy.

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