Paxos white paper uncovers unique factors driving millions of Latin Americans to adopt digital assets
NEW YORK, Sept. 13, 2022 /PRNewswire/ -- Today, Paxos, the leading regulated blockchain infrastructure platform, published "What's Driving the Immense Growth of Crypto in Latin America?", a new white paper that delves into the consumer and market trends fueling adoption of digital assets in the region. Following the successful integration of crypto into numerous Latin American fintech apps like Mercado Libre, Nubank, PicPay and others, Paxos sought to understand the drivers behind the region's robust embrace of cryptocurrency. Crypto usage in Latin America has increased by 1370% from 2019-2021, according to Chainalysis.
Paxos' findings include the primary motivators of crypto adoption in Latin America: a desire for greater access to the US dollar as a hedge against inflation, easier and less expensive cross-border remittances and a general movement away from traditional banking...
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