Latin America's cryptocurrency

Conclusion: course set for convergence and turbulence

A snapshot of the state of cryptocurrencies and fintech in mid 2022 suggests various conclusions. Perhaps the most important is that both are demonstrating explosive growth and are likely to move towards some kind of underlying convergence. It is clear that in future money will be transacted even more digitally than it is today, on mobiles and other devices, at greater speed and convenience, and with greater multi-currency convertibility. In five years’ time the region’s financial architecture will be unrecognisable. However, there is uncertainty over how this will play out. The transition will be turbulent – some cryptocurrencies and some payment platforms are likely to fail or to be absorbed by others as the new world begins to emerge.

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