{"id":16990,"date":"2023-06-01T22:11:49","date_gmt":"2023-06-02T02:11:49","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/more-colombians-taking-to-crypto-claims-exchange-next-latam-nation-to-adopt\/"},"modified":"2023-06-01T22:11:50","modified_gmt":"2023-06-02T02:11:50","slug":"more-colombians-taking-to-crypto-claims-exchange-next-latam-nation-to-adopt","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=16990","title":{"rendered":"More Colombians Taking to Crypto, Claims Exchange \u2013 Next LATAM Nation to Adopt?"},"content":{"rendered":"
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Colombians are increasingly taking crypto, one of Latin America\u2019s biggest crypto exchanges has claimed.<\/p>\n

Per Criptonoticias, the Bitso trading platform says it has increased the number of its individual retail clients \u201cby 10 times\u201d since this time last year.<\/p>\n

Bitso opened its offices in Colombia in the first half of 2022.<\/p>\n

The firm was founded in Mexico in 2014, but has since expanded to a number of Latin American states.<\/p>\n

The company said that it had already \u201cdiversified its\u201d range of \u201cproducts and services\u201d in Colombia, and is now providing solutions for \u201ccompanies and institutions in the country.\u201d<\/p>\n

Bitso added that some of the \u201chighlights\u201d from its first year in Colombia include the addition of sports club fan tokens to its platform.<\/p>\n

Coins like these are starting to make headway in LATAM.<\/p>\n

The firm also said it had made a \u201ccommitment to promote cryptocurrency regulation law in Colombia,\u201d and was \u201cparticipating in regulatory discussions\u201d with regulators.<\/p>\n

Emilio Pardo, Bitso Colombia\u2019s Country Manager, said:<\/p>\n

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\u201cThe growth [in] adoption of cryptoassets among Colombians is a clear example of the potential that the country has in terms of these assets going mainstream. [Crypto] can provide an effective alternative for financial inclusion.\u201d<\/p>\n<\/blockquote>\n

The firm claims to have \u201cmore than 7 million users,\u201d most of whom are thought to be LATAM-based.<\/p>\n

Crypto Adoption: Colombia\u2019s Turn?<\/h2>\n

Inflation has been relatively stable in Colombia \u2013 particularly compared to other LATAM nations like Argentina.<\/p>\n

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Inflation has led to a massive spike in Argentinian interest in tokens such as Bitcoin and USDT.<\/p>\n

But adoption is thought to be on the rise in Colombia, too.<\/p>\n

Earlier this year, Binance rolled out a prepaid crypto card in the country.<\/p>\n

And last year, the nation\u2019s government unveiled tentative plans for crypto sector regulation.<\/p>\n

The media outlet said that it was \u201cestimated\u201d that \u201cup to 92.1% of Colombians\u201d have access to a crypto-related \u201cformal financial service.\u201d<\/p>\n

Last year, the Colombian Tax and Customs National Authority suggested that the nation wanted to launch a \u201cdigital currency\u201d in a bid to combat tax evasion.<\/p>\n

Tax officials think that a figure equal to around 8% of the country\u2019s GDP is evaded by tax dodgers every year.<\/p>\n

The nation has also attempted to introduce retrospective crypto trading-related taxes.<\/p>\n<\/p><\/div>\n