NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, October 12, 2018

By Michael Kern

Latin America is an often-over-looked region in the crypto-space, but that’s beginning to change. With a population double that of the United States and rapidly approaching Europe, Latin America’s impact on the global economy is becoming impossible to ignore.

After the death of the global commodity boom that bolstered emerging markets in Central and South America, the region slowed to a crawl. But despite economic troubles in Venezuela and Argentina, Latin America as a whole is on its way back. And the fintech sector is leading the charge.

Latin America is undergoing somewhat of a transformation in the world of global finance. With the state of the banking industry in many countries in the region, people are turning to one another to solve their problems. From neighborhood initiatives to cross-border peer-to-peer lending platforms and online-only independent banking solutions, Latin America is exploring new ways to approach their personal finances.

Photo courtesy of Pixabay.