In 2021, Latin America saw a huge increase in the use of cryptocurrencies among 20 and 14 countries in the region.

The many conferences and associations, new regulations, NFT (non-fungible token) projects and the global beef market last year have made it an interesting market for the region.

Let’s take a look at some of the most exciting developments in the blockchain and cryptocurrency ecosystem in Latin America in 2021.

Colombian financial companies cooperate with cryptocurrency exchanges
In early 2021, the Colombian Financial Supervisory Authority authorized several partnerships between banking institutions licensed in the country’s financial system and cryptocurrency exchanges.

The nine partnerships included big names from the crypto industry such as Binance, Tyler and Cameron Winklevoss Twins.

The regulator said that these approvals were made as part of a regulatory sandbox to test technology solutions in the global financial market and will have a trial period of up to one year.

Learn about cryptography in Latin America
In 2021, the rapid rise of digital currencies has led some Latin American countries to officially recognize their use as a payment instrument, despite their reputation for instability. El Salvador’s official recognition of bitcoin (BTC) as a legal tender – the first of its kind in the world – set off a wave not only in Latin America, but all over the world.

The Bitcoin law for Salvadora’s President Najib Bukele was approved by a majority in the country’s representative body, the Legislative Assembly, and entered into force in September.

In August 2021, the Cointelegraph reported that the Cuban central bank had to recognize cryptocurrencies such as bitcoin (BTC), ether (ETH), litecoin (LTC) and tether (USDT) for trading and investing transactions.

The head of Peru’s central bank, Giulio Velardi, announced in November that the country would work with the central banks of India, Hong Kong and Singapore to develop its own digital banking currency.

Blockchain events in 2021
As a result of the closure and subsequent quarantines during the COVID-19 pandemic, many blockchain companies and organizations have reconsidered their strategies and moved into cyberspace to attend and attend conferences.

Blockchain Latham Summit
Blockchain Summit Latam is one of the most important crypto events in Latin America, and promotes the crypto and blockchain ecosystem in the region. In September 2021, 100 experts from the broader ecosystem spoke on the fifth edition.

For five days, more than 60 virtual rooms hosted seminars and discussions on blockchain technology. Topics included infrastructure and applications, the Ibero-American ecosystem, business, decentralized finance, blockchain in the traditional financial system and more.

In November 2021, the ninth Bitcoin and Blockchain Conference took place in Spanish-speaking Latin America, also known as LaBitConf. The conference brought together virtual face-to-face meetings and the agenda included over 150 industry experts who delivered over 40 presentations on topics such as bitcoin mining, the future of Latin America exchanges, regulation, privacy and security and more. .

Latin crypto festival
In December, the fourth edition of Crypto Latin Fest combined 14 hours of online and face-to-face meetings with conversations and workshops with cryptocurrency experts.

Notable representatives of the Latin American cryptoecosystem such as Jose Rodriguez, Director of Blockchain Land in Talent Land, and Ilián Huesca, Latin America Community Leader at Bitso, covered topics such as blockchain, stablecoins, cyber security, legality, DeFi and cryptocurrency adoption. . .

Blockchain Earth
The massive Blockchain Land conference in Spanish, presented by the same company that produced Talent Land Latinoamerica, was first launched in 2020 and was simulcast in the Decentraland and Cryptovoxels regions.

The event, held in April, was one of the largest in Spain and was considered the most innovative, and was broadcast simultaneously on two virtual worlds located on the Ethereum blockchain, where users can interact, communicate and communicate.

NFT boom in Latin America
Last year, non-fungible tokens became widespread in Latin America and around the world.

In September, the Argentine company SeSocioNFT opened a store to promote and sell works of art by Latin American artists. The platform is said to plan to adapt works made by various artists to NFT so that they can be sold on the market.

The NFT boom has led to Ecuador’s first digital art fair, organized by NFT’s UIDE exhibition at the International University of Ecuador.

Source: CoinTelegraph