74% of Latin Americans Favor Businesses That Accept Crypto


The Asia-Pacific and Latin American regions are positive on crypto assets, according to Ripple’s crypto trends report.

The poll revealed that the areas agree that digital money would have an influence on society, however, the results revealed two disparities in the regions’ support.

Asia-Pacific respondents are more willing to purchase virtual goods for their “emotional rewards,” whilst Latin Americans are more interested in utilising crypto for commercial transactions.

The survey, which was issued on Thursday, indicated that 74% of Latin Americans are more inclined to transact with firms that take cryptocurrency, compared to just 41% of Europeans. This demand is rapidly being answered by companies in Latin America; a separate study found that more than half of Latin American respondents have actually paid for products and services using cryptocurrency.

While Latin Americans valued the economic advantages of crypto the most, Asian respondents were more interested in the emotional benefits of virtual assets. According to the survey, Asian consumers were up to three times more likely than respondents from other areas to acquire an NFT to memorialise a significant event.

According to Statista, Hong Kong, Singapore, China, and Taiwan top the globe in NFT (non-fungible token) interest, whereas the Philippines dominated Axie Infinity’s user base during its 2021 bull run.

In contrast to Europe, fifty percent of Latin American respondents believe crypto would have a “major influence” on banking and society. In terms of crypto attitude, the Middle East and North Africa were found to usually fall between Latin America and Europe.

Also Read: The Biden Administration Seeks Public Input Regarding the New Digital Asset Executive Order

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