您现在的位置是:Crypto Transactions Between Latin America & Asia Are Growing >>正文
Crypto Transactions Between Latin America & Asia Are Growing
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛4人已围观
简介Many Latin American companies have adopted the use of cryptocurrencies to bypass the complex banking...
Many Latin American companies have adopted the use of cryptocurrencies to bypass the complex banking system
Chainalysis, a blockchain analytics firm based in New York, published new research that revealed there have been around 200,000 crypto transactions in the past year that have amounted to more than $1 billion between Latin America and Asia.
The study, entitled Latin America Migrates Economic Turbulence With Cryptocurrency, looked at trends in cryptocurrency transactions within Latin America from July 2019 to June 2020. It found that the use of cryptocurrency is driven by issues regarding access to banking as well as the need for remittances, particularly in cross-border commercial-related transactions.
It also found that while Western Europe and North America make up the biggest source of fiat remittances to Latin America, it is East Asia that constitutes the highest volume of crypto transactions. Many of these payments are commercial transactions between exporters located in Asia and companies in Latin America.
The Head of Research at Chainalysis, Kim Grauer, explained that the researchers were not able to find one overarching driving factor behind this phenomenon because each country in the region has unique motivations, with different systems for politics and banking.
However, they were able to pinpoint several highlights, such as that “the use of P2P exchanges is a key service for adoption in Venezuela, a large professional market drives adoption in Brazil, and a substantial commercial market drives adoption among Argentina, Paraguay, and Brazil as they trade goods, often imported from China”.
Luis Pomata, co-founder of the Paraguay-based crypto exchange Cripex, explained that the situation between banks in Paraguay and businesses has discouraged companies from filing banking applications, which stems from concerns about money laundering on the bank’s end. As a result, financial institutions are picky with who they choose to work with as a result.
“It’s not just businesses in Latin America having problems with banks. Many individuals are also unable to get bank accounts, which is another factor driving cryptocurrency adoption,” the report reads.
It also explains that many young people prefer to use cryptocurrency as a means of storing value without easy banking access.
In July of this year, Bitso, one of the biggest crypto exchanges in the Latin American region, hit the one million user mark prior to its launch in Brazil. The exchange’s success in Argentina was made possible due to significant crypto activity and a high demand for cross-border payments in the local market.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/161333.html
相关文章
Cardano (ADA)'s Potential 70% Surge to $0.75: Analysis; Hype Grows Around a Rising Memecoin
Crypto Transactions Between Latin America & Asia Are GrowingCardano (ADA), a prominent player in the altcoin arena, is currently the talk of the town, with rece...
阅读更多
BTC surges as BlackRock’s IBIT trades $7.5M shares in first 10 minutes
Crypto Transactions Between Latin America & Asia Are GrowingBitcoin (BTC) price surged to above $48,000 again on Thursday as spot Bitcoin ETFs made their market...
阅读更多
Hut 8 to manage mining operations for Celsius Network’s newly
Crypto Transactions Between Latin America & Asia Are GrowingHut 8 says it will manage mining operations for MiningCo at five sites under a four-year contract.Th...
阅读更多
热门文章
- Meet Rabbit r1: Your handy AI sidekick turning talk into action
- New altcoin steals the show as Bonk surges on KuCoin listing and Dogecoin's on
- China’s nuclear battery will charge your smartphone for life
- Kesha Gets Her Swagger Back in Raucous “Raising Hell” Single and Video
- Can Mamba bite ChatGPT? OpenAI rival 'outperforms' AI language models
- Vibraniums: Where to buy the NFT’s native token
最新文章
Nuclear research center might help self
Coinbase Institutional Unveils Coinbase Prime
Russia reportedly produces first batch of Poseidon Nuclear Torpedoes
Amazon layoffs hit amid an increase in robot automation: what to know
Where To Buy Bitcoin Diamond Amid Trading Volume Rise
The world's most powerful turbine produces energy for the first time