Interest in Cryptocurrencies on the Rise in Latin America
By Diana Ngo
Latin Americans are increasingly turning to cryptocurrencies which many perceive these as a more stable store of value and means of transaction.
In hyperinflation-crippled Venezuela, privacy-focused cryptocurrency Dash is rising in popularity among locals with some 200 merchants and thousands of wallet downloads per month.
“We are seeing tens of thousands of wallet downloads from the country each month,” Ryan Taylor, CEO of the Dash Core Group, the US-incorporated company leading the development of the peer-to-peer payment platform and cryptocurrency Dash, told Business Insider in an interview last week. “Earlier this year, Venezuela became our number two market even ahead of China and Russia, which are of course huge into cryptocurrency right now.”
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