Coinbase Aims $2 Million Crypto Ad Campaign at Latino Voters Across US
Coinbase is spending $2m on ads aimed at Latino voters and consumers, part of the crypto industry’s effort to get supportive politicians in power.
The new ad campaign is promoting crypto as a way to send money overseas. Reuters reported Thursday that it features a young man sending financial aid to his grandmother in Mexico.
The ad highlights that using USD Coin on the Coinbase Wallet app incurs no fees. This is in comparison to the typical 6.18% charged for traditional money transfers.
To reach Latino viewers, Coinbase will be advertising during the Copa America soccer tournament on Univision. It will focus on California, Texas, and Washington D.C.
“Our traditional financial system is not working for communities of color, who experience disproportionate barriers to wealth-building at every turn,” former Los Angeles Mayor Antonio Villaraigosa, said in a statement associated with the campaign.
Coinbase didn’t return Cryptonews’ request for comment by press time.
A 2022 Mastercard survey showed that Latin American consumers were looking for more crypto- and digital payments-related services. Around 51% of survey respondents in the region have already made a transaction with crypto.
Latino consumers are also embracing emerging payment technologies — the survey found about 86% used at least one emerging payment method in 2022.
Coinbase has previously engaged in advocacy initiatives. In August last year, the company launched Stand With Crypto, an organization representing voters who own cryptocurrencies. The Alliance operates as a 501(c)(4) entity according to the IRS, qualifying it as a tax-exempt social welfare group.
Earlier this month, Stand with Crypto exceeded 1m members. Coinbase CEO Brian Armstrong noted that this rapid
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