Half of Latin Americans Have Used Cryptocurrencies, Mastercard Survey Shows

Fifty-one percent of consumers in Latin America made at least one transaction with cryptocurrencies.

AccessTimeIconJul 1, 2022 at 6:33 p.m. UTC
Updated May 11, 2023 at 4:24 p.m. UTC
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In Latin America, 51% of consumers have made at least one transaction with cryptocurrencies, according to a survey conducted by Mastercard (MA).

  • The study entitled "New Payments Index 2022," also showed that more than a third of Latin Americans said they have made an everyday purchase with a stablecoin. By comparison Mastercard said just 11% of those responding worldwide, reported having made a purchase using a digital asset.
  • In addition, 54% of Latin Americans said they were optimistic about the performance of digital assets as an investment vehicle, according to the study, which was based on a survey of 35,000 people around the world conducted between March and April.
  • “More and more Latin Americans are showing interest in cryptocurrencies and want solutions that facilitate access to the crypto world,” Walter Pimenta, executive vice president of products and engineering at Mastercard Latin America and the Caribbean, said in a statement.
  • Nearly 70% of consumers in Latin America and the Caribbean said they would feel more comfortable investing and transacting in crypto if there was a trusted organization in the middle.
  • “The future of payments is already here. Increasingly Latin Americans are turning to technology to conduct their financial transactions and this trend is expected to continue to rise, with an overwhelming 95% planning to use a digital payment method in the coming year and 29% acknowledging having used less cash in the past year,” Pimenta said.

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Andrés Engler

Andrés Engler was a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.


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