Economic instability fuels crypto safe haven boom in Latin America – DL News
- Inflation drives crypto as a safe haven in Latin America’s economy.
- Stablecoins and DeFi rise as currencies devalue in the region.
Inflation and ongoing currency devaluation in Latin America are causing a surge in crypto adoption.
The region, which accounted for 9.1% of global crypto value received between July 2023 and June 2024, received nearly $415 billion in digital assets.
This places it slightly above Eastern Asia, according to a recent Chainalysis report.
Argentina
Argentina leads the region with $91.1 billion in crypto received over the past year.
Stablecoins account for over 61.8% of Argentina’s crypto transactions.
For many Argentinians, stablecoins provide a hedge against triple-digit inflation, which reached 209% in September.
