LATAM Crypto Roundup: Nexo Joins
Colombia Fintech
Association, Worldcoin Expands
to Guatemala, and
More
Latin America (LATAM) continues to assert its growing importance in the global
crypto ecosystem. In Colombia, Nexo has joined the Fintech Association,
marking a significant step in its regional expansion. Meanwhile, Worldcoin is
extending its World ID verification service to Guatemala, addressing digital
identity issues in a world increasingly dominated by bots.
This article explores these developments and more, including crypto adoption
surges in Bolivia and Brazil• Бразилия’s advancement in developing its central bank• Экономика » Финансы » Государственный банк » Центральные банки
digital currency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта (CBDC).
Bolivia s Crypto Transactions Surge Following Ban Lift
Bolivia has seen a rapid rise in cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта activity since its central
bank• Экономика » Финансы » Государственный банк » Центральные банки lifted the long-standing ban on digital assets in June 2024. The Central
Bank of Bolivia• Объект организация » Организации по алфавиту » Организации на Це » Центральный банк Боливии (BCB) reported 100% growth in crypto transactions over just
three months. Between July and August, the average crypto trading volume in
Bolivia soared to $15.6 million, doubling from the $7.6 million recorded in
the first half of the year.
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Read more: Crypto Regulation: What Are the Benefits and Drawbacks?
Stablecoins have emerged as the preferred choice for many Bolivians, offering
an alternative for e-commerce and international transactions. BCB President
Edwin Rojas highlighted the significance of this shift.
“The use of virtual assets is a favorable step towards modernization and
economic integration with the world to strengthen international commercial and
financial activities. Since the regulation came into force, the population has
an alternative mechanism to process transfers to and from abroad and
electronic commerce payments, among other activities,” Rojas stated.
Despite these gains, Deputy Mariela Baldivieso, a proponent of cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта,
stresses that more work is needed . Bolivia still faces challenges,
particularly in the areas of financial literacy and regulatory infrastructure.
Baldivieso believes that with stronger education initiatives and clearer
regulations, Bolivia could become a hub for crypto innovation in the future.
Worldcoin Expands Digital ID Services in Guatemala
Worldcoin continues its expansion in Latin America by launching its World ID
verification service in Guatemala. As of September 25, Guatemalan users can
use Worldcoin’s orb• Музыка » Музыка Великобритании » Музыкальные коллективы Великобритании » Электронные музыкальные коллективы Великобритании » The Orb technology to verify their identity as humans, countering
the growing concern over online bots. With a quick download of the World App
and an appointment at one of the orb• Музыка » Музыка Великобритании » Музыкальные коллективы Великобритании » Электронные музыкальные коллективы Великобритании » The Orb locations, users can ensure their online
interactions are genuine.
In a recent survey, 83% of Guatemalans expressed concerns about distinguishing
between human-generated and bot-generated content online. The launch of World
ID is seen as a solution to this issue, providing increased security and
transparency in digital interactions. Worldcoin s Survey in Guatemala.
Source: Worldcoin
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Worldcoin’s expansion into Guatemala follows its previous launches in Ecuador
and Mexico , where the technology has already gained traction. However, as
Worldcoin grows in Latin America, it has sparked privacy debates in countries
like Argentina , where concerns over biometric data protection have prompted
regulatory discussions.
Nexo Eyes Growth in Colombia with Fintech Association Membership
On September 26, crypto lending platform Nexo officially joined the Colombia
Fintech Association . This partnership enables Nexo to integrate into
Colombia s financial environment and offer digital asset solutions.
Joining the association also enables Nexo to further engage with the local
fintech community and explore synergies within the sector.
In a statement shared with BeInCrypto, Elitsa Taskova, Nexo s Chief
Product Officer, stated that the partnership with the Colombia Fintech
Association reflects Nexo s commitment to providing advanced digital
asset solutions.
Colombia presents a unique opportunity: with an astounding 92.1% of the
population already having access to crypto-related services, the country is
making a notable leap towards digital finance. [ ] We’re not just
entering a market; we’re empowering millions of Colombians with accessible
digital asset tools and shaping the future of finance in Latin America,
Taskova said.
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These solutions meet the country s growing demand for stablecoins and
secure cross-border transactions. Over the past year, Nexo has observed a 73%
rise in local clients using its crypto-yield products. Colombia s
interest in cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта , particularly stablecoins, has been driven by
remittances and a growing need for digital financial services• Экономика » Финансы » Финансовые услуги
• Сфера услуг » Финансовые услуги.
Paraguay Develops World’s First National Blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн to Push Sovereignty
Paraguay is making waves with the development of Legaledger , the world’s
first third-generation blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн network with national sovereignty. The
Paraguayan Blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн Chamber drives this initiative, aiming to provide secure
blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн-based solutions for the public and private sectors. These solutions
encompass financial, civil, and military transactions.
Ricardo Prieto, the director of the Blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн Chamber, explained that
Legaledger is built on Hyperledger technology. It is designed to offer legal
certainty in blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн transactions, addressing concerns over security and
fraud.
“Our blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн network model is fractal. [ ] It can be implemented in a
company, conglomerate, state, and country, with the same schematic design, and
all would remain interoperable for the purposes of what we call sequencing,
publication of the procedure or transaction, including international
operations,” Prieto explained.
Through its sovereign blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн model, Legaledger aims to position Paraguay
as a global leader in blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн governance and innovation. The organization
plans to expand its solutions internationally by 2026.
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Brazil• Бразилия s CBDC Initiative DREX Enters Second Phase of Development
The Central Bank of Brazil• Экономика » Экономика Бразилии » Центральный банк Бразилии
• Бразилия » Экономика Бразилии » Центральный банк Бразилии
• Объект организация » Организации по алфавиту » Организации на Це » Центральный банк Бразилии is making progress with its CBDC project—DREX. The
institution recently entered the second phase of its DREX pilot program . This
phase focuses on 13 strategic projects that will test the viability of smart
contract-based financial services• Экономика » Финансы » Финансовые услуги
• Сфера услуг » Финансовые услуги.
“We will also test the use of assets not regulated by the Central Bank• Экономика » Финансы » Государственный банк » Центральные банки. To
this end, we are working together with the Securities and Exchange Commission
(CVM). Other regulators have also shown interest in testing operations with
assets under their jurisdiction in order to expand the usability of the
platform,” Fabio Araújo, Coordinator of the Drex Initiative and Consultant of
the Department of Banking Operations and Payment System of Brazil• Бразилия’s Central
Bank• Экономика » Финансы » Государственный банк » Центральные банки, elaborated.
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The projects cover various sectors, including international trade financing,
real estate transactions, and credit collateralized in public securities.
Major financial players such as Bradesco• Объект бренды » Бренды на b » Bradesco, Itaú• Объект бренды » Бренды на i » Itaú, and Santander are part of the
consortium leading the development of DREX, which focuses on privacy and
regulatory compliance• Экономика » Финансы » Банк.
Read more: What Is Fiat Currency? How Does It Differ From Cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта?
Brazil• Бразилия’s push toward a CBDC is part of its broader strategy to modernize its
financial infrastructure . The country plans to roll out more advanced digital
solutions by mid-2025.
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