Crypto LATAM Update July

🌎 For Oxido Solutions, the Latin American market is a key focus. Under the guidance of local representatives like Henrique Marinho, a growing number of professional and institutional investors from Brazil, Colombia, and other South American countries are using our crypto trading bot solutions. To serve this market better, we keep a close eye on local developments. Here’s the latest crypto news from LATAM:

🇪🇸 The Merge bridges crypto/web3 LATAM and Europe
Yesterday, Oxido Solutions met with Paula Pascual Cortes and her business partner Alejandro Monfort Gimeno at the 7th edition of ETH CC. Besides being an Adjunct Professor at IE University in Madrid and a Crypto & Blockchain Project Manager at Banco Santander S/A Paula is the founder of the Web3 event The Merge. This event, taking place from October 8-10 in Madrid, is the first to connect the crypto/web3 worlds of LATAM and Europe. Oxido Solutions will be attending.

⚽ Celebrity Endorsement
We’re excited about celebrity endorsements of cryptocurrency from LATAM, especially from Brazilian soccer legend Ronaldinho, who recently tweeted:
“Time for crypto to go mainstream, who’s with me?”

🇧🇷 Brazil Leads in Crypto Trading
Brazil recorded a 30% increase in crypto trading volume in the first months of 2024, reaching $6 billion and surpassing USD trading volumes since mid-January. This makes Brazil the largest crypto market in Latin America and the seventh-largest globally (source: Kaiko).

🇧🇴 Bolivia Lifts Cryptocurrency Ban
Amid an economic crisis, Bolivia has lifted its ban on using cryptocurrencies. President Luis Arce made this move to attract foreign capital and modernize the financial system, which could significantly benefit Bolivia by easing international transactions and increasing remittances.

🇲🇽 Crypto Adoption in Mexico
A recent report from from Sherlock Communications reveals that over 3.1 million Mexicans now own crypto, making up 2.5% of the population. This growth is driven by the $63 billion remittance market with the US, with Bitso processing $4.3 billion last year. Companies like Bitso, Volabit, Bybit, Binance, OKX and Coinbase are instrumental in increasing adoption.

These updates highlight Latin America’s growing influence in the global crypto market. Stay tuned for more insights by Oxido Solutions in next month’s roundup.