Mastercard: 95% of Latin Americans plan to use cryptocurrencies

The digital payment revolution that began during the pandemic is driving interest and use in Latin America, with 51% of consumers in the region having made at least one cryptocurrency transaction, a Mastercard survey has found.

«Latin Americans are increasingly turning to technology to conduct their financial transactions, and this trend is expected to continue to grow, with the vast majority (95%) planning to use a digital payment method next year,» said Walter Pimenta, Executive Vice President of Product and Engineering for Mastercard Latin America and the Caribbean.

The majority of consumers in the region (82% of respondents) said they would like to see cryptocurrency-related features available directly from their current financial institution.

The survey also showed that consumers would feel more confident investing (69%) and making/receiving payments (67%) in cryptocurrencies if they were issued or backed by reserve funds.