What has evolved in Latin American crypto ecosystems in the past year? The Sherlock Communications fifth annual Latin America Blockchain Report explores the latest Web3 developments across twenty-one countries in the region.
What motivates Latin Americans to invest in cryptocurrency? The region’s increasing crypto adoption isn’t a fad, it’s a lifeline, as currency devaluation and remittance fees push many to embrace blockchain technology for financial survival. We asked the opinion of more than three thousand consumers across the region and this report brings exclusive insights into crypto-adoption in six Latin American markets – Argentina, Brazil, Chile, Colombia, Mexico and Peru.
Blockchain landscapes are evolving at an unprecedented rate and Latin America is definitely a region to watch for anyone invested in the future of Web3. Considerable growth was witnessed in Latin America’s blockchain ecosystem in the past year, driven by a confluence of factors, such as rising global interest rates, supportive regulations, and populations hungry for financial inclusion.
The region is poised to capitalise on the global crypto boom, with countries like Brazil and El Salvador leading the way with regulatory frameworks, following a global trend of crypto-friendly regulations. And 2024 further marks the official entry of institutional investors into the Latin American crypto space, adding a layer of legitimacy and stability.
But blockchain’s potential extends beyond the financial sector, and countries like Ecuador and Guatemala are leveraging this technology to ensure transparency and trust in their national elections.
While the future looks bright, education remains a key obstacle to wider user adoption. With in-depth analysis and authentic local data, our Latin American Blockchain Report 2024 provides a comprehensive overview and valuable insights at the Web3 ecosystem developments in twenty-one Latin American countries.
