Ripple, the banking payments, remittances, and cryptocurrency company, believes that Latam could be a hotspot of opportunities for crypto companies in the future.
Ripple, the cryptocurrency and payments company, has issued an article examining the opportunities that Latam brings for crypto companies as its regulated payments rails come to crypto. While the region faces some obstacles due to its economic traits and the dominance of centralized banks, the organization believes there is a lucrative opening for companies partnering with these banks to bring crypto to the masses.
This points to the idea of crypto companies collaborating with banks and fintech companies to take an active role amongst the main rails to transact and make payments in these countries.However, this integration process would likely not be without its hiccups. Traditional payment rails are managed by banks in the region, and banking inclusion is very high in some of the largest countries, with Brazil and Chile having 88% and 82% of their population banked, respectively.
The inclusion of crypto companies in the different debates that are happening regarding regulation will also be very important for the future of crypto in the region, according to the article. Ripple believes that this process will be positive, stating that: Smart and progressive regulation will beget further successful regulation — leading to increased innovation and progress around crypto across Latin America.
In this sense, there is a regulatory awakening in the continent, with countries like Brazil and El Salvador leading the pack when it comes to crypto regulation. Brazilian legislators have
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