The Venezuelan President Nicolás Maduro and his cohorts have long banged the drum about creating a “crypto-powered economy” – but it appears that either the message has got through to citizens, or Venezuelans have been adopting crypto of their own accord. Per monthly web traffic data from SimilarWeb and Alexa, some of the most-visited websites…
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“Our long-term vision is to create a currency that is stronger than any fiat currency that exists now,” said Reserve community manager Yens Michiels. One under the radar cryptocurrency-powered payment app that’s been gaining traction across Latin America is Reserve. The platform acts as a convenient way for people to convert their local currencies, which…
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Uphold CEO JP Thieriot said that the nature of life in Latin America begs for use cases based on Bitcoin. El Salvador’s Bitcoin (BTC) adoption has triggered a digital asset revolution in Latin America, and the region could benefit even more if people can exchange cryptocurrencies, fiat money and the upcoming central bank digital currencies…
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The Central Bank Of Venezuela applied the announced redenomination plan for the national fiat currency, the bolivar on October 1. This redenomination implied slashing six zeroes from the currency, to make payments and currency handling easier, according to earlier statements. However, just hours after applying this measure, the bolivar lost more than 20% of its…
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Bitcoin-as-a-payment is becoming reality in El Salvador after the country formally recognized the cryptocurrency as legal tender. El Salvador’s recognition of Bitcoin (BTC) as legal tender has opened up new payment options for its citizens, with fast-food empire McDonald’s reportedly accepting payments in the cryptocurrency through Lightning Network. Journalist Aaron van Wirdum broke the news…
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Coinbase and SoftBank have participated in a $26-million funding round for Latin America’s largest crypto asset management firm. Hashdex, the Rio de Janeiro-based crypto asset manager with over 4 billion Brazilian real ($765 million) in assets under management, has raised $26 million in a new funding round from investors. According to Bloomberg on Wednesday, venture…
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IADB disbursed tokenized funds to a recipient in the Dominican Republic using the LACChain blockchain network. Banking giant Citigroup has successfully completed a proof-of-concept for blockchain-based cross-border payments in collaboration with the Inter-American Development Bank, or IADB. According to a Thursday announcement, Citigroup’s Citi Innovation Labs and the IADB enabled several disbursements from the United…
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Blockchain proponents claim that agricultural asset-backed tokens would make it easier for farmers in Argentina to attract investment and access liquidity amid a nationwide economic crisis. Argentina’s brittle economy — stricken by endemic problems that have only worsened amid the COVID-19 pandemic — has sparked rising unrest in the country’s agricultural sector. Earlier this month, representatives…
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Analysts have been categorizing blockchain projects worldwide into a “periodic table” that allows for a granular analysis of the technology’s inroads into global trade. The World Trade Organization and Trade Finance Global have published their latest taxonomy of blockchain projects in international trade, arranged into what they present as a “periodic table” for the industry.…
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A new report has found almost half of all Bitcoin traded on the P2P exchange Paxful is exchanged for gift cards. A report published by Arcane Research has revealed that nearly half of Paxful’s trade volume comes from trade between Bitcoin (BTC) and gift cards. The report found that, “purchasing Bitcoin with gift cards has…
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