Latin America is historically characterized by economic instability and high inflation rates, these have been one point of great relevance for a large number of cryptocurrencies adopted by the local population. In addition, another highlight on the continent has been the local crypto exchanges that, in addition to their local success, have offered more attractive rates of return than the large global corporations dedicated to this type of service.
To better reflect this situation in numbers, we can indicate that Latin American exchanges offer annual rates of return of up to 15% compared to the 9% offered by other global companies in stablecoins.
The most prominent countries on the continent in the fintech innovation sector are Mexico, Brazil and Colombia
In addition to the seductive rates of return, the debates around the regulation of cryptocurrencies, the performance of exchanges, and other fintech have heated the entire ecosystem that revolves around digital financial solutions. The major countries on the continent in the fintech innovation sector are Mexico, Brazil, and Colombia, while the first mentioned Ley Fintech as a regulatory landmark in the fintech sector (2018), Brazil is making great strides around the fintech sector. thematic with the bill 2.303/15.
In this way, we will present some of the outstanding exchanges on the continent, indicating the positioning of the most prominent ones in the CoinMarketCap ranking and their respective score* according to the platform.
*Criteria for developing the score of exchanges according to CoinMarketCap - Web Traffic Factor; Average Liquidity and Volume. Source: CoinMarketCap
As we can see, in the Latin American continent, in addition to a large consumer market and a population that is increasingly receptive to the adoption of cryptocurrencies, local exchanges have made great efforts to seduce more and more customers. Bitso in Mexico and Mercado Bitcoin in Brazil are examples of the great adhesion of their countrymen to their financial platforms.
And although there is still a greater emphasis on foreign companies at a global level, the facilities concerning the language or the possibility of articulating a service offer with local currencies easily, the more popular cryptocurrencies become in Latin America, the more your supporters can opt for local exchanges.