Fintech Americas: Blockchain and Digital Assets Become Essential for Financial Transformation in Latin America

Fintech Americas celebrated its eleventh edition, emphasizing the adoption of blockchain and digital assets as essential for digital transformation in Latin America. Discussions covered tokenization advancements, the role of banks in cryptocurrency adoption, and the impact of digital payments on emerging economies. The digitalization of assets via blockchain is gaining traction, democratizing investment access, reducing costs, and increasing operational transparency. Leo Elduayen, CEO of Koibanx, highlighted the shift towards regulating tokenization of traditional securities, crucial for democratizing investment access and boosting capital markets. Bitso's Nano Rodriguez noted that 10% of remittances between the U.S. and Mexico, exceeding $64 billion, use stablecoins and blockchain for faster, cheaper transactions. Crypto assets are also expanding in international payments and treasury management. Ernesto Fasola of Banco de la Nación Argentina pointed out Argentina's active crypto market, with $98 billion traded in 2023, surpassing the country's total imports. Banks are beginning to process remittances and international payments with cryptocurrencies, while others explore blockchain for payment reconciliation and system interoperability. Banks operating with crypto assets will drive adoption, transforming the financial infrastructure.