Brazil, Argentina, and Mexico Among Top 20 Nations in Global Crypto Adoption
Brazil, Argentina, and Mexico are among the top 20 countries globally with the highest cryptocurrency adoption, as per the Chainalysis 2023 Global Crypto Adoption Index.
While India, Nigeria, and Vietnam take the lead in global cryptocurrency adoption, Chainalysis identifies a trend of increased grassroots adoption in lower to medium-income countries, specifically those with a Gross National Income (GNI) per capita ranging from $1,086 to $4,255.
Brazil emerges as a standout performer in the Latin American region, securing the ninth spot in the index. The Brazilian tax authority, the Receita Federal, reports a notable surge in cryptocurrency transactions by both individuals and companies. Argentina, facing economic challenges such as soaring inflation and devaluation, ranks 15th, indicating a growing interest in cryptocurrencies amid financial instability. Mexico closely follows in 16th place, further highlighting the expanding crypto ecosystem in Latin America.
Clever Robot News Desk 20th September 2023
