Latin America remains one of the regions with the greatest adoption of cryptocurrencies, promoted by economic factors such as inflation, bank restrictions and the search for more stable financial alternatives.
Argentina stands out as a leader in the use of cryptocurrencies, with a 73% increase in the volume of transactions in 2024, reaching US $ 91,000 million. A 25% growth in the adoption of cryptocurrencies in Latin America by 2025, with a notable increase in countries such as Brazil and Colombia, where the regulatory environment is improving.
According to a chainysis report, cryptocurrency remittances have experienced significant growth, reaching US $ 415,000 million in transactions in the last 12 months, which represents approximately 9.1% of the global total.
What countries lead the adoption of cryptocurrencies in Latin America?
In terms of volume of transactions, Argentina remains one of the most active countries in the use of cryptocurrencies, especially in the Stablecoins market. In 2024, the volume of cryptocurrency transactions in Argentina grew by 73% compared to the previous year, reaching US $ 91,000 million. This increase reflects the need of Argentines to protect their savings in the face of high inflation, which closed the year by 117.8%. Cryptocurrencies have become a key tool to maintain value against the devaluation of the Argentine weight.
In countries such as Mexico, Venezuela and Colombia, cryptocurrency remittances have shown prominent growth. In Mexico, the use of cryptocurrencies for the sending of remittances increased by 40% in 2024, making it one of the main beneficiaries in Latin America. Cryptocurrency platforms have allowed migrants to send money to their families more quickly and economically, avoiding high commissions of traditional bank transfers.
Venezuela, on the other hand, remains one of the countries with the greatest adoption of cryptocurrencies, due to the instability of the bolivar and high inflation. According to Chainysis, more than 30% of the Venezuelan population has used cryptocurrencies at some point, a fact that highlights the dependence of digital currencies as an economic refuge.
Sebastián Reyes, Chief Analytics Officer of Vita Wallet added that the financial inclusion and adoption of cryptocurrencies in Latin America is one of the regions with the highest levels of penetration in the use of virtual assets due to high levels of inflation, among other factors. The different regulators have been advancing with the intention of formalizing the industry within local economies, establishing clear rules of play. From Vita Wallet we offer international money transfers services. These can be done with Fiat coins and cryptocurrencies. We handle a crypto wallet for some countries in South America, such as Chile, Argentina, Peru and Venezuela.
Projections for 2025: growth continues
By 2025, the adoption of cryptocurrencies in Latin America is expected to continue its ascending course, with a 25% growth in the volume of transactions compared to 2024. This increase will be mainly driven by the expansion of cryptocurrency services in countries such as countries such as countries such as countries such as countries such as Brazil and Colombia, where the regulatory environment is beginning to become more favorable.
In Colombia, for example, the adoption of cryptocurrencies grew 58% in 2024, and this growth is expected to continue the increase in the offer of financial products based on blockchain. It is expected that in 2025, 12% of the population of Latin America has had some experience with cryptocurrencies, a figure that could exceed 15% in countries with more unstable economies, such as Venezuela and Argentina.
Challenges and opportunities on the road
Despite growth, the mass adoption of cryptocurrencies faces challenges. The volatility of digital assets remains a concern for users, as well as the lack of adequate financial education in some areas. However, experts in the industry believe that, as more people familiarize themselves with cryptocurrencies and their benefits, adoption in the region will be increasing.
The Inter -American Development Bank (IDB) has highlighted the importance of cryptocurrencies as a tool for financial inclusion in Latin America. By allowing access to financial services to non -banking people and offering alternatives to traditional monetary systems, cryptocurrencies can play a key role in the modernization of Latin American economies.
With an increase of 40% in the volume of transactions in 2024 and a growing penetration in key markets such as Argentina, Mexico and Venezuela, the adoption of cryptocurrencies in Latin America will continue to be a dominant trend in 2025. As the region faces economic challenges And look for new forms of financial stability, cryptocurrencies continue to gain ground as a vital tool in the region’s economic scene.
Source: Ambito
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