Crypto Adoption in LATAM: Regulatory Progress and Community Growth

The LATAM crypto dynamics are changing quickly while adapting to a new era. Argentina and Mexico stood out with major developments in crypto adoption and advanced infrastructure development.

In Argentina, Crypto.com has been licensed by the National Securities Commission (CNV) as a Virtual Asset Service Provider (VASP). On their official site, they announce this achievement as another step closer to the final goal of obtaining a complete operating license under the recently published rules dated March 14.

Crypto.com Latin American regional head Alain Yacine embraced this milestone, crediting the company’s commitment to delivering Argentine consumers and merchants a safer and more comprehensive crypto trading experience.

Argentina Grants Operating Approval to Crypto.com

Argentina has quickly become a central focus of Crypto.com’s expansion strategy due to its rapidly increasing bitcoin usage. Recent research highlights that nearly half (46%) of Argentine respondents find it essential to spend cryptocurrency through debit cards, and more than half (57%) plan to invest in cryptocurrencies within the next year.

With over 10 million crypto asset accounts in Argentina, there is a clear indication of strong interest in financial technology and digital currency. According to Crypto.com, local stablecoin activity represents 61.8% of transaction volume, surpassing the global average of 44.7%. This creates a unique desire for monetary security in uncertain economic times.

The new regulatory structures in Argentina aim to enhance protection for users, promote transparency, and apply protections in the crypto market, thereby opening the door to a more regulated and secure market.

Helium Expands Network with 100 Mobile Hotspots in Mexico

In Mexico, Helium has made significant strides by installing 100 new mobile hotspots across 18 cities. This expansion brings the total number of hotspots to 736 across the country. According to Cointelegraph, this development follows Helium’s recent partnership with Movistar announced in February.

Helium boasts a decentralized wireless communications platform that is built on a Solana blockchain base. They aim to enhance user connection and service quality and community-driven network expansion. Over the last 30 days, Helium has logged a cumulative 281.83 GB of data that has been transmitted. Daily transmission levels vary with transmission levels on certain days reaching more than 40 GB, showing the network is in active use.

Community members play a key role by contributing new hotspots and earning HNT rewards, further fueling network expansion.

Stablecoins Become a Preferred Choice in LATAM

As per Bitso’s recent data, 39% of LATM’s users turned towards stablecoins in the past year. This increase reflects the customers’ growing interest in stablecoins during inflation and currency devaluation. 

The “Panorama Cripto en América Latina” report shows a growing attraction towards stablecoins like USDC and USDT. Additionally, the report also stated that Bitcoin transactions dropped from 38% to 22% in past years. 

Country-Specific Trends Across LATAM

Argentina has seen stablecoin adoption rise by 11%, totalling 1.6 million users due to hyperinflation and capital restrictions. In Brazil, regulatory developments and DeFi growth have driven stablecoins to account for 26% of purchases with a user base of 1.9 million. Meanwhile, in Colombia, the collapse of the Colombian peso has solidified stablecoins as the preferred choice among crypto users.

These developments collectively highlight the continued growth and resilience of LATAM’s crypto market.