In the latest crypto news, Nexo has joined the Colombia Fintech Association, marking a significant milestone in its expansion within Latin America. This move underscores the region's growing role in the global crypto ecosystem. Concurrently, Worldcoin is broadening its reach by introducing its World ID verification service to Guatemala, addressing pressing issues related to digital identity as the internet faces increasing bot activity.
Following the Central Bank of Bolivia's decision to lift its long-standing ban on cryptocurrencies in June 2024, the country has witnessed a remarkable surge in crypto transactions. According to the Central Bank of Bolivia (BCB), there has been a 100% increase in crypto activity within just three months. From July to August, Bolivia's average crypto trading volume skyrocketed to $15.6 million, doubling from the $7.6 million recorded earlier this year.
Stablecoins have emerged as the preferred choice for many Bolivians, providing a reliable alternative for e-commerce and international transactions. BCB President Edwin Rojas emphasized the importance of this transition, signaling a shift in how Bolivians engage with digital assets.
As crypto adoption continues to grow in Latin America, the developments in Colombia and Bolivia reflect a broader trend of increasing engagement with digital currencies. The region is poised for further advancements, especially with initiatives like the central bank digital currency (CBDC) in Brazil.
