Rocketfuel Payment Solutions vice president of Marketing Monica Taher joined Steve Darling from Proactive to discuss the rising trend of crypto payments in Latin America.
The region, including countries like Brazil, Argentina, Colombia, and Ecuador, has shown significant adoption of cryptocurrencies due to economic instability, high inflation rates, and volatility in local currencies. This trend is especially prominent in countries with large unbanked populations, such as El Salvador and Mexico.
RocketFuel Inc. recognizes the potential of this market and has established a presence in the region. The company has partnered with businesses in the remittance industry, witnessing a 900% increase in crypto-based remittances in the past year.
MasterCard's survey reveals that 51% of Latin Americans have already used crypto payment methods, placing the region seventh globally in terms of crypto adoption.
Taher emphasizes the need for crypto companies to focus on Latin America, as its rapidly growing adoption rates are reshaping the financial landscape. The region's buzz around cryptocurrencies is expected to persist, making it a key market for innovative financial solutions.
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