Digital assets have recently become more and more prevalent in our daily lives — in the news, popular culture and our personal interactions. In the first quarter of 2021, the number of global daily Bitcoin (BTC) transactions hit 367,536. Bitcoin alone now accounts for around $20 billion of daily online transactions. Not only this, but those who are familiar with digital assets and cryptocurrencies trust them implicitly — Binance’s “Global Crypto User Index” for 2021 shows a 97% confidence in cryptocurrencies. Proportionally, members of Latinx communities in the United States have some of the highest rates of crypto adoption, with …

El Salvador’s Bitcoin (BTC) adoption has triggered a digital asset revolution in Latin America, and the region could benefit even more if people can exchange cryptocurrencies, fiat money and the upcoming central bank digital currencies (CBDC) on the same infrastructure, said the head of multicurrency investment platform Uphold. Speaking to Cointelegraph, Uphold CEO JP Thieriot underscored that the nature of life in Latin America begs for Bitcoin-based use cases, listing the region as that which will benefit the most as crypt adoption continues to grow. Venezuela and Colombia are the two most prominent crypto adopters in the region besides El …

El Salvador has made global headlines with its president's controversial introduction of Bitcoin (BTC) as legal tender — a move that has sparked dissent from many citizens and was met with skepticism by the International Monetary Fund. A new survey suggests that despite these developments, most El Salvadoreans still know little about the veteran cryptocurrency and even less about its smaller-market cap counterparts. Research conducted by the São Paulo-based agency Sherlock Communications suggests that 54% of Salvadoran respondents chose ‘none’ when asked which cryptocurrency they knew best out of a list of five leading coins. While 40% chose Bitcoin over …

El Salvador’s recognition of Bitcoin (BTC) as legal tender has opened up new payment options for its citizens, with fast-food empire McDonald’s reportedly accepting payments in the cryptocurrency through Lightning Network. Journalist Aaron van Wirdum broke the news Tuesday after he visited a McDonald’s restaurant in El Salvador, where he was presented with a printed QR code directing him to an invoice page on Lightning Network. McDonald’s had 19 locations across the Latin American country as of 2019. Just walked into a McDonald's in San Salvador to see if I could pay for my breakfast with bitcoin, tbh fully expecting …

Bitso, a major cryptocurrency exchange in Latin America, will be the core crypto service provider for El Salvador’s official Bitcoin (BTC) wallet, known as Chivo. In conjunction with Bitcoin becoming legal tender in El Salvador, Bitso announced on Tuesday that the firm would assist El Salvador in launching the state-supported BTC wallet alongside companies like Silvergate Bank, digital currency company Athena Bitcoin and blockchain firm Algorand. Silvergate Bank, a California state-chartered commercial bank and a United States Federal Reserve member, will work with Bitso to facilitate U.S. dollar transactions for the Chivo wallet. Athena Bitcoin will provide some front-end services …

A new stablecoin pegged to the value of the Chilean Peso is now live on the open-source Stellar payments network — but is yet to prove popular with users. Chile-based firm CLPX Inc launched what it describes as the first-ever Chilean Peso-pegged stablecoin dubbed the “CLPX” token. According to the public ledger on Stellar Expert, since the launch on Monday, the stablecoin has seen limited volume of just $12,689 from a total of 12,902 trades. CLPX was designed to provide a cheaper alternative to traditional Peso-based remittances, with the firm utilizing the Stellar Network, as it incurs “substantially” lower fees …

Uruguayan Senator Juan Sartori has introduced a draft bill to regulate cryptocurrency and enable businesses to accept crypto payments. Sartori joins a growing list of politicians from South American and Spanish-speaking countries who are seeking to bring crypto adoption into the mainstream. The senator is not proposing the use of crypto as legal tender as in El Salvador, however. The crypto-friendly Senator tweeted on Wednesday that “today we present a bill, pioneer in the world, that seeks to establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies in Uruguay.” The bill …

Paraguayan Congressperson Carlitos Rejala and Senator Fernando Silva Facetti are planning to introduce a Bitcoin (BTC) bill to Congress on Wednesday, July 14, underscoring the lawmakers’ urgency in formulating a coherent digital asset strategy for their country. “I am here to unite Paraguay,” Rejala tweeted Friday, adding that he and his fellow lawmaker are planning a “mega surprise for Paraguay and the world.” I am here to unite Paraguay , that is why we decided with Senator @FSilvaFacetti to present together the bill #bitcoin on Wednesday, July 14! Stay tuned since there will be a mega surprise for Paraguay and …

The Economic Commission for Latin America and the Caribbean, or ECLAC, a United Nations’ regional commission to encourage economic cooperation, is the latest regulator to raise concerns about El Salvador’s decision to accept Bitcoin (BTC) as legal tender. ECLAC executive secretary Alicia Bárcena has warned that El Salvador’s Bitcoin move poses a number of systemic risks as well as risks related to money laundering, local news agency Diario El Mundo reported Friday. Bárcena emphasized that there is no study yet that would have investigated potential risks or benefits of El Salvador accepting BTC as legal tender. She expressed confidence that …

Apple co-founder Steve Wozniak has reportedly reiterated his positive stance on Bitcoin (BTC) despite not being a Bitcoin investor himself. A vocal proponent of Bitcoin who once called it the “only digital gold,” Wozniak reportedly referred to Bitcoin as a “miracle of technology” and a “unique mathematical formula” at Talent Land Digital 2021, a major virtual event in Latin America devoted to technology and innovation. According to Thursday a report by local news agency El Sol de México, the Apple co-founder has also indicated that Bitcoin is better than gold, implying that it’s easier to mine Bitcoin blocks than finding …

The U.S. Department of State’s Under Secretary of State for Political Affairs Victoria Nuland said El Salvador should ensure Bitcoin is well regulated under its new legal framework. In a Wednesday press conference following a meeting with President Nayib Bukele, Nuland said the United States was taking a “tough look at Bitcoin” following the ransomware attack on the Colonial Pipeline and suggested El Salvador take a similar approach. The country passed a law in June making Bitcoin (BTC) legal tender, legislation that will go into effect on Sept. 7. "I did suggest to the President that whatever Salvador chooses to …

Latin American cryptocurrency exchange Mercado Bitcoin has secured $200 million in Series B financing from SoftBank, marking one of the largest crypto-focused funding rounds in the region’s history. Mercado Bitcoin will use the funds to expand its offerings and invest in new infrastructure to meet the growing demand for digital assets in the region, the São Paulo, Brazil-based exchange announced Thursday. 2TM Group, the parent company behind Mercado Bitcoin, is now estimated to be worth $2.1 billion, making it the eighth-largest unicorn on the continent. In the venture capital industry, the term “unicorn” describes privately-held startups with a value of …