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Efecto Covid ayuda a la adopción de criptomonedas en Latinoamérica

Covid effect helps the adoption of cryptocurrencies in Latin America, registers 7% participation worldwide

  • “The increase in liquidity due to the macroeconomic measure QE will allow converting that money into cryptocurrencies”, CZ, CEO of Binance
  • The world’s largest exchange increased the incorporation of institutional clients by 60% during Q3 2020

Colombia, Bogotá DC, November 19, 2020.- Binance, the largest cryptocurrency exchange platform worldwide, detects that, as part of the effects that the impact of the pandemic produced by Covid-19 has had, the adoption of crypto in a significant way in the financial sector.

According to the blockchain analyst Chainalysis, the use of cryptocurrencies in Latin America from July 2019 to June 2020 represented 7% of the share worldwide with a received and sent value of 24 and 25 billion dollars respectively. 

“Some industries have changed forever. People are more used to working remotely and conducting international transactions, which helps with crypto adoption. Covid-19 also triggered other macroeconomic changes in almost all countries such as the QE measure (quantitative easing) *. I believe that as this new money from increased liquidity flows into the global market, much of it will become cryptocurrency in one way or another, ”revealed Changpeng Zhao (CZ), Binance Global CEO. 

This statement is part of the trends and predictions that CZ makes about the cryptocurrency industry for 2021, a year that it indicates, it hopes to be positive and of great progress both in education, operation and regulation, “We are actively working with many regulators around the world. world to help generate positive influences on regulations that will benefit our industry as people’s lives continue to improve, ”he said. 

According to figures provided by Binance, the exchange that has a presence in more than 40 countries registered a 60% increase in the incorporation of institutional clients during the third quarter of 2020 and compared to the quarter of 2019. 

In this sense, the company also recently incorporated the Colombian Peso (COP) to its platform so that users can buy cryptocurrencies through credit or debit cards.

The national currency was joined by the acceptance of the Mexican Peso (MXN), the Chilean Peso (CLP) and the Peruvian Sol (PEN); with which the company reaffirms its interest in providing the Latin American region with greater access, information and operations to increase the use of cryptocurrencies and financial technology. 

Acerca de Binance

Binance is the world’s leading global digital asset exchange company, due to its number of users and volume of operations, and is also the leading provider of blockchain and cryptocurrency infrastructure. It was founded in 2017 and has more than 1,300 employees, located in more than 40 countries and regions around the world, including Singapore and Malta.


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