CRYPTO LATAM UPDATE SEPTEMBER 2024
Latin America is a crucial market for Oxido Solutions, with a growing number of professional and institutional investors in Brazil, Colombia, and other South American countries using our crypto trading bot solutions. To better serve this market, we closely monitor local developments. Here’s the latest crypto news from LATAM:
🇲🇽 Salvadoran FinTech DitoBanx Expands to Mexico
DitoBanx, a FinTech from El Salvador, is entering the Mexican market, offering services like international transfers, digital credit cards, dollar accounts, cryptocurrency access, and tokenization. The company, which recently secured its operating license in El Salvador, is now active in Mexico, with a $3 million investment in its operations. CEO Guillermo Contreras emphasized their commitment to Mexico’s growth and plans to integrate the digital peso by 2025.
🇵🇪 Peru Cracks Down on Cryptocurrency Crime
Peruvian authorities are intensifying efforts to combat crypto-related crime. Juan Carlos Villena Campana, Peru’s Public Prosecutor, highlighted the challenges posed by the growing use of cryptocurrencies and the need to address the risks associated with anonymity in the crypto space.
🇦🇷 Argentines Lead Stablecoin Adoption in LATAM
According to a recent Bitso report, Argentines are leading the region in stablecoin purchases, driven by factors like high inflation and exchange rate fluctuations. Bitso’s Julian Colombo (image) noted that while stablecoins are currently preferred, the market is also seeing a shift towards more volatile cryptocurrencies like Bitcoin and Ether.
🇸🇻 Bukele on Bitcoin’s Impact on El Salvador’s Image
El Salvador’s President Nayib bukele recently discussed how Bitcoin adoption has impacted the country’s international image. While Bitcoin uptake has been slower than expected, Bukele noted that it has brought investments and boosted tourism.
Bitcoin Mining Companies in Paraguay Suspend Operations
In Paraguay, nine Bitcoin mining companies have halted activities following a recent power fee hike by the National Power Administration. Industry representatives had warned about the potential impact of the increased energy costs on the mining sector.
🇧🇷 Mercado Libre Launches Dollar Stablecoin in Brazil
Mercado Libre, Latin America’s largest company, has introduced its own dollar-pegged stablecoin, meli dolar, for the Brazilian market. Developed in partnership with Ripio, this stablecoin is now available on Mercado Pago, the company’s payment processing platform.
These developments underscore Latin America’s growing role in the global crypto market. Stay tuned for more insights from Oxido Solutions in next month’s update.
