LATAM crypto news: Gen Z boosts daily crypto use while stablecoins outpace Bitcoin in regional trading
Main Idea
Gen Z in LATAM leads in daily cryptocurrency spending, particularly on games and travel, while stablecoins like USDT dominate trading volumes in the region. Argentina's CNV has suspended Atómico 3 due to compliance concerns.
Key Points
1. Gen Z spends 39% of their crypto on games and 36% on travel, while Gen X leads in high-value spending with 40% on items like luxury goods.
2. Stablecoins, especially USDT, account for over 40% of LATAM's crypto trading volume, surpassing Bitcoin (24%) and Ethereum (10%).
3. Argentina's CNV suspended Atómico 3, a foreign-registered VASP, due to noncompliance with regulatory requirements.
4. In Latin America, 38% of people use crypto for digital product purchases, while 35% shop online with it.
5. Emirates Airlines' collaboration with Crypto.com is cited as an initiative boosting crypto payment infrastructure in the Middle East.
Description
This week’s most notable news is that Gen Z is boosting the use of cryptocurrencies across Latin America. Millennials also show strong adoption, using crypto for a wide variety of expenses. On the other hand, stablecoins remain the most traded crypto assets in Latin America. USDT alone accounts for over 40% of all trading volume in
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