LATAM crypto news: Crypto.com gains Argentina approval, Helium expands in Mexico

LATAM’s cryptocurrency landscape continues to grow.

This week’s highlights come from Argentina, which recently granted Crypto.com operating approval. Meanwhile, Hellium installed 100 mobile hotspots in Mexico.

The National Securities Commission (CNV) of Argentina has approved Crypto.com to operate as a Virtual Asset Service Provider (VASP), according to their official website.

This achievement is a crucial milestone for the organization, as they continue to pursue a complete operating license under the new restrictions published on March 14.

Alain Yacine, president of Crypto.com for Latin America, expressed delight in the achievement and enthusiasm for giving Argentine customers and merchants a safer and more comprehensive crypto trading experience.

The Latin American market, notably Argentina, is quickly increasing bitcoin usage, making it a key emphasis of Crypto.com’s growth plan.

According to recent research, nearly half (46%) of Argentine respondents believe it is vital to spend cryptocurrency via a debit card, with more than half (57%) planning to invest in cryptocurrencies within the next year.

Argentina has more than 10 million crypto asset accounts, indicating a strong interest in financial technology and digital currency.

According to Crypto.com, local stablecoin activity makes up 61.8% of transaction volume, much exceeding the global average of 44.7%.

This demonstrates a desire for financial security in an unpredictable economic climate.

The expanding legal frameworks are critical for user safety, as they seek to promote transparency and protection inside Argentina’s crypto ecosystem, paving the road for a more regulated market.

Helium installs 100 mobile hotspots across 18 cities in Mexico

Helium is growing its network in Mexico, with the recent installation of 100 new mobile hotspots, bringing the total number to 736 across the nation.

According to Cointelegraph, this big breakthrough comes after the company’s collaboration announcement with Movistar in February. Helium, noted for its decentralized wireless communication platform built on the Solana blockchain, aims to improve user connectivity and service quality while encouraging community-driven network growth.

Helium has recorded a total of 281.83 GB of data moved over the last 30 days, showing strong activity in the region. Daily data transmission amounts vary greatly, with peaks surpassing 40 GB on some days and low activity on others.

This variance implies that the network has a dynamic usage pattern, which is maintained by community members who contribute to its expansion by adding new hotspots and earning HNT awards for their efforts.

Bitso: 39% of the crypto community in LATAM preferred stablecoins in 2024

According to Bitso’s most recent estimate, in 2024, 39% of Latin American users would turn to stablecoins as a haven in the face of economic crises such as inflation and currency depreciation.

The “Panorama Cripto en América Latina” report shows a considerable movement toward stablecoins such as USDC and USDT, indicating a growing demand for these assets as a hedge against economic volatility.

According to Cointelegraph, this desire matches broader developments in the region’s cryptocurrency market, as more people seek out digital assets that offer stability.

The research also indicates a shift in customer preferences, with Bitcoin’s percentage of sales falling from 38% in 2023 to 22% in 2024.

This reduction can be ascribed to Bitcoin’s rising price and a popular investing technique among users known as “HODL,” in which investors keep their Bitcoin rather than sell.

Other cryptocurrencies are also gaining traction, with altcoins such as Ethereum and Solana holding their positions and meme coins such as PEPE and DOGE seeing significant rises in popularity, demonstrating a wide range of interest in digital assets.

Furthermore, the paper highlights major trends in key nations such as Argentina, Brazil, and Colombia. In Argentina, hyperinflation and capital constraints have increased stablecoin adoption by 11%, increasing the total to 1.6 million users.

Brazil’s regulatory developments and DeFi growth have resulted in stablecoins accounting for 26% of purchases, with a customer base of 1.9 million.

Finally, in Colombia, the collapse of the Colombian peso has reinforced stablecoins as the preferred option among users, suggesting a regional response to economic uncertainty.

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