Cryptocurrency Adoption in Latin America Surges, User Base Exceeds 57 Million

November 20th. Based on the latest report from the cryptocurrency exchange platform Bitso, Latin America is witnessing a "breakthrough" year in the adoption of cryptocurrencies. According to the data in the Coinchange Regulatory Report, the usage of cryptocurrencies in this region increased by 116% in 2024. Subsequently, there was another 65% growth in the first half of 2025. Currently, the total number of users has exceeded 57 million. This remarkable growth has been mainly driven by an improved regulatory environment, a maturing market, and proactive regulatory measures in the US and Europe. Brazil became a regional regulatory leader with the enactment of Law No. 14,478 in 2022, establishing a comprehensive crypto framework. Chile laid the groundwork for digital assets through the 2023 FinTech Law. And Mexico's 2018 FinTech Law was one of the earliest formal regulatory frameworks in the world to recognize virtual assets. Felipe Vallejo, the Chief Corporate Affairs Officer at Bitso, stated that this is a crucial moment to build a modern and flexible regulatory framework to promote innovation, protect users, and strengthen the digital financial ecosystem. Analysts predict that Latin America is rapidly emerging as a strategic hub for global financial innovation and digital asset solutions.