The CEO of exchange Argentinian, Lemon, Marcelo Cavazzoli, noted that there is a boom in the adoption of cryptocurrencies in Argentina. He revealed that the country is the one with the highest volume on-chain, and the volume of transactions exceeds that of Brazil and Mexico.
In an interview with local media, Cavazzoli said that Argentina is the country with the highest adoption of cryptocurrencies in the entire region, since the volume of transactions per person would even exceed Brazil and Argentina, which have 240 and 250 million inhabitants, respectively.
Bitcoin and stablecoin users grow in Argentina
Marcelo Cavazzoli revealed that Lemon has 2.5 million users in the country, with Córdoba, where it has 300,000 users, being the city in Argentina with the highest adoption of cryptocurrencies. The CEO of Lemon explained to the Argentine newspaper Perfil that the country has an audience, talent and adoption with knowledge on the part of citizens.
“A lot of crypto companies came out of Argentina and a lot of people who worked for the most important web 3.0 and crypto protocols. All from here because they saw it early, because they were able to form before the rest. So we have adoption by the public, talent, a lot of talent and knowledge in Argentines,” Cavazzoli explained to the newspaper Perfil.
Read more: Best cryptocurrency exchanges in Argentina
Argentina is one of the countries with the greatest adoption of cryptocurrencies, since even its president Javier Milei assured that his administration will allow free competition of currencies, including Bitcoin and other units such as WTI and BTU.
The Argentine president seems determined to institutionalize more Bitcoin in the Argentine economy, but “in his own way.” In December 2023, the Minister of Foreign Affairs, International Trade and Worship ratified that the government will allow contracts in Bitcoin, consolidating hope in the crypto community.
Argentina continues to expand its adoption of cryptocurrencies
Lemon’s CEO reported that 20% of purchases with the FinTech card are made in cryptocurrencies and the rest are made in Argentine pesos. He even went on to say that many Argentines use their accounts exchanges like Lemon to save in Bitcoin and stablecoins.
“What we achieved with Argentina does not exist in the world. There is no other app like Lemon in the whole world. So now the challenge we have, obviously, is to continue building and continue creating functionalities that unite the worlds more and bring more people to Argentina, in addition to expanding,” Cavazzoli explained to the newspaper Info Negocios.
Another example that Argentina is a regional pole of attraction in cryptocurrencies was the recent announcement by Worldcoin, which will increase its investment in the country, while demand for its most popular service, World ID, increases. It only seeks to “satisfy the demand” of Argentines.
Read more: How has cryptocurrency adoption evolved in Argentina?
BeInCrypto reported that the alternative company of the founder of OpenAI admitted that “they are ready to grow” in Argentina. Likewise, in the region, through its operations center. They will even offer 50 qualified positions for developers, specialists, software engineers, data analysts, among others.
Disclaimer
Disclaimer: In compliance with the Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently verify the facts and consult with a professional before making any decisions based on this content.
