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Private banks are even more risk-averse when granting a loan. In Brazil, the largest private bank, Itau, offers personal loans with an annual interest rate that can go up to 172.85%, according to its website. In Argentina, the annual interest rate offered by the largest private player, Banco Santander, can
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As the region is enduring the highest inflation in the world, lingering around 12%, the dollar keeps its dominant position as a tool to counter the local inflation challenges. In this way, Latin Americans already see dollar-backed stablecoins as more secure than their own currencies, the report said. Original Source
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Thriving on exploiting users’ data, Web2 monopolies like Facebook and Google have ushered in an era of massive internet centralization in recent years. This concentration of power has enabled huge shares of communication and commerce closed platforms, giving users little control over how their data is collected.An emerging concept, Web3,
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Ripio currently has 3.5 million users across Brazil, Argentina, Uruguay, Colombia, Mexico and Spain, according to Serrano. The company plans to start operations in Chile before the end of 2022, and to open offices in Peru, Ecuador, Bolivia and Paraguay next year, he added. Original Source
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“The blockchain technology behind Mercado coin allowed us to develop an open and extremely secure solution,” Guilherme Cohn, senior manager of corporate development, said in a statement. “We continue to follow the evolution of cryptocurrencies and blockchain technology, as we believe in the potential of these tools.” Original Source
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BNB Chain, a blockchain network created by crypto exchange Binance, and Latin America-focused education platform Platzi announced that they will be launching a Web3 development course for the region.By the end of the year, the course aims to be accessible to 30,000 students. Gwendolyn Regina, investment director at BNB Chain,
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“We will be expanding in the region the possibility to buy, sell and hold cryptocurrencies in your account,” Mercado Libre’s fintech vertical director Osvaldo Gimenez told the Spanish newspaper El País. “It works with bitcoin, with ethereum and with a stable currency that reflects the value of the dollar,” he
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The purchase of the 85% stake was for more than 1 million euros ($1.022 million), Bit2Me COO Andrei Manuel told CoinDesk, without disclosing an exact figure. Fluyez, operational as of March 2021, will continue being led by Luis Eduardo Berrospi, co-founder and CEO of the company. Original Source
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“These transactions are not affected by volatility at all,” said Emilio Pardo, country manager of Bitso in Colombia. “The price of the stablecoins that we use depends on the international currency market, with parity with the dollar, a great benefit to beat inflation.” Source
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