Latin American Investors ‘Hoping to Ride Crypto Prices to the Moon’ as Adoption Set to Continue

cryptonews.com:

A report on the state of crypto in the Latin America region has concluded that adoption is likely to continue apace for the rest of the year – and will find fertile ground for growth in the world of cross-border payments and “crypto credit cards.”

The report was issued by Americas Market Intelligence (AMI), a Latin America-focused market intelligence firm.

In its forecasts for the remainder of 2022, AMI claimed that while the word “cryptocurrency” would “remain synonymous with volatility,” this would “entice” some, but could “discourage” others.

The company claimed that most crypto adoption cases would come in the form of private investors, with crypto buyers “hoping to ride cryptoasset prices ‘to the moon.’” Much of this attention will center on “high-volatility assets” including bitcoin (BTC) and ethereum (ETH), the report’s authors wrote.

The mainstream financial sector is likely to feed this growing need by rolling out more digital wallets and access to cryptoassets via banking apps – in addition to “limited support for other use cases like P2P [peer-to-peer] money movement,” the authors explained.

Some adoption efforts will actively “avoid the ‘cryptocurrency’ label,” the authors opined, with stablecoin accounts “coming to serve unmet demand” for “stable money and smooth cross-border payments.”

The authors explained that providers of these services would “seek to minimize the impression of risk and volatility, even by avoiding the word ‘cryptocurrency” – instead using terms like “digital currency” or “digital dollar.”

The report’s authors claimed that exchanges will try to stay relevant by launching “card programs” that offer customers BTC and altcoin cashbacks “at first” – hinting that further adoption plans could be on