Argentina and Brazil are part of the top ten countries with the most crypto ownership, according to a recent report issued by Triple-A, a provider of digital currency white-label payment solutions. Argentina took the fourth place in the list, with 18.9% of its population holding cryptocurrency, while Brazil appears in sixth place with 17.5%.
Argentina and Brazil Among the Countries With Most Crypto Ownership
Latin America, with its specific traits and necessities, has grown to become a crypto hotbed. Triple-A, a provider of digital asset-based white-label payment solutions, has released a report positioning Argentina and Brazil as part of the top ten countries where the population owns more cryptocurrency. While the top is taken by the United Arab Emirates (UAE), with 25.3% of its population holding some kind of cryptocurrency asset, Argentina appears in fourth place, with 18.9%. Brazil ranks sixth with 17.5%.
The wave of inflation and devaluation that Argentines have been facing since some time ago, paired with the ongoing exchange control, explains the thirst that Argentines have for cryptocurrency, especially stablecoins. While some reports have pointed out that Argentines have started investing more in bitcoin than in stablecoins, 80% of the cryptocurrency purchases in 2023 involved some stablecoins, according to Lemon.
Instead, Brazilians see crypto as an investment asset, with a well-developed market and even stock bourses offering crypto-related products.
However, the only other country entering the top 20 nations, in this case, is Venezuela in the 17th place, with a little over 10% of its population holding crypto. Venezuela enters the cryptocurrency market facing the same problems that Argentina, and also focusing mostly on stablecoins. This shows that while adoption in Latam is high, it is still centered on certain hubs, and still has room for growth.
The report estimates that Asia leads cryptocurrency ownership by region, with an estimated 326,8 million people holding crypto in the continent. This represents an increment of 21.8% compared to 2023. Nonetheless, cryptocurrency ownership is growing all around the world, which is seen by Triple A as a highlight of the “growing role of digital currencies in the global finance ecosystem.”
