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Mastercard: 51% of Consumers surveyed in Latin America and the Caribbean have crypto ‘experienced’

Interest in crypto is surging in Latin America and the Caribbean (LAC), where payments giant Mastercard says more than half of “consumers” have had at least one encounter with crypto.

The company said it spoke to “more than 35,000 people around the world” as part of its new Payouts Index survey, with 51% of LAC respondents saying they have completed “at least one related activity“. regarding cryptocurrencies in the past 12 months. “

It added that “more than a third” of Latin American/Caribbean people used stablecoins to “pay for a daily purchase.”

The survey conducted between March and April of this year further revealed that 54% of Latino and Caribbean consumers are “optimistic” about the performance of digital assets as an investment.

About 66% of Latin Americans and Caribbeans responded that they wanted “more flexibility to use cryptocurrencies and traditional payment methods interchangeably” in their daily financial activities.

A whopping 82% also responded that they would like their existing banks to offer them a range of “crypto-related” functions that are “directly available”.

And 77% of respondents said they would be happy to use crypto more if they understood more about it.

The survey also indicated that if cryptocurrencies were “issued or backed by a trusted institution,” such as a bank, 69% of respondents would feel more confident investing private.

And 67% said they would be happy to make or receive payments in crypto if the tokens had tradfi (traditional finance) backers.

However, the survey seems to suggest that the region is an outlier. Globally, just over a third of respondents said they “somewhat or very likely will try to pay with crypto” in the next year, with less than 6 out of 10 saying they “will feel more confident about cryptocurrency if they know that it has been issued or backed by a reputable organization.

The Mastercard survey also shows that digital payments are on the rise in Latin America, with 95% of respondents saying they plan to use digital payment methods in the next year. Nearly a third of respondents said they had used less cash in the past 12 months.

The survey’s findings came to the fore after a spate of activity in the region from rival Visa by Mastercard. The company then launched several crypto tokens in Brazil and Argentina this month – in partnership with major players in the local blockchain industry.

Walter Pimenta, Mastercard’s VP of Product Operations and Engineering for the Latin America/Caribbean region, is quoted as saying that “more and more Latin Americans are showing an interest in cryptocurrencies and want solutions. methods to facilitate access to the world of cryptocurrencies”.

He added that Mastercard is currently working on “solutions to expand digital inclusion and strengthen alliances that ensure operability and support.