As a Latin American the largest uptake I see is among criminal groups for money laundering.[0]
But with an open mind I read the section you called out and I have several issues.
The first is that the report doesn’t actually discuss or show the numbers. The country reporting only talks about inflation in those countries and percentage of transactions, how much volume and coins are these countries actually moving?
They have the stats, but know it’s all wash trading. Funny how ‘wash trading’ or even ‘money laundering’ doesn’t even make it I to the report. Really makes the branding of building trust in blockchains laughable.
Second this report is very outdated.
This is seen in the Mexico section; it talks about inflation numbers and the potential for remittances. It even mentions coinbase’s program which was shutdown in sept 22 for lack of usage (as in a couple hundred bucks a week).
Page 20 shows amounts in billions received by each country, eg Mexico looks like ~57.5 billion.
In the Mexico section it says:
> Bitso alone has already processed more than $1 billion in US-to-Mexico remittances in 2022 as of June, representing a year-over-year growth rate of 400% and a grip on 4% of Mexico’s remittance market.
A wee bit more than a couple hundred per week. Maybe Bitso cornered the market there?
But with an open mind I read the section you called out and I have several issues.
The first is that the report doesn’t actually discuss or show the numbers. The country reporting only talks about inflation in those countries and percentage of transactions, how much volume and coins are these countries actually moving?
They have the stats, but know it’s all wash trading. Funny how ‘wash trading’ or even ‘money laundering’ doesn’t even make it I to the report. Really makes the branding of building trust in blockchains laughable.
Second this report is very outdated.
This is seen in the Mexico section; it talks about inflation numbers and the potential for remittances. It even mentions coinbase’s program which was shutdown in sept 22 for lack of usage (as in a couple hundred bucks a week).
[0] https://www.reuters.com/article/mexico-bitcoin/insight-latin...