ARGENTINA: INNOVATION DRIVEN BY THE ECONOMIC CRISIS
The constant devaluation of the Argentine peso and exorbitant inflation have led Argentines to increasingly adopt cryptocurrencies as an investment alternative and protection of their purchasing power.
According to the Global Crypto Adoption Index 2023, prepared by Chainalysis, Argentina is ranked 15th in the world ranking, only surpassed in Latin America by Brazil.
"Argentina has an impressive level of cryptocurrency adoption, out of necessity, because it has lived in the last 20 to 30 years with many economic problems," Pablo Casadio, co-founder and financial director of Bit2Me, told EFE.
This scenario has turned the country into a magnet for major international players and has fostered local innovations such as Agrotoken, backed by grains, and Atómico 3, anchored to lithium.
"Argentines are very innovative and for us the Argentine 'crypto' ecosystem is impressive," Casadio adds. According to Mariano Biocca, executive director of the Argentine Fintech Chamber, "there are close to ten million virtual asset trading accounts in Argentina," making the country a regional leader in volume of assets transacted.
