Latin America sends a ton of crypto to Asia, and vice versa

[Lenipiw]

Latin American companies are looking towards crypto as an escape from the banking system.
New York-based blockchain analytics firm Chainalysis has published new research highlighting there have been up to 200,000 crypto transactions in the past year, worth more than $1 billion between Latin America and Asia.

The study Latin America Mitigates Economic Turbulence with Cryptocurrency, analyzed crypto trends in Latin America between July 2019, and June 2020, and shows that banking access issues and the need for remittances are driving unique patterns of cryptocurrency usage, especially in crossborder commercial-related transactions.
Visit Here: https://cointelegraph.com/news/latin-america-sends-a-ton-of-crypto-to-asia-and-vice-versa

[KryptoBull]

So the source of this transaction volume comes from trading activities on Asian exchanges + payments to the Chinese government? Should this be seen as positive or negative for the market? In my opinion this can be seen as a step towards the popularity of crypto in life, but also quite alarming about China's attitude towards crypto, whether they accept it or not is still a secret to the world.

[KryptoBull]

So the source of this transaction volume comes from trading activities on Asian exchanges + payments to the Chinese government? Should this be seen as positive or negative for the market? In my opinion this can be seen as a step towards the popularity of crypto in life, but also quite alarming about China's attitude towards crypto, whether they accept it or not is still a secret to the world.

[highnayem34]

While North America and Western Europe are the biggest source of fiat remittances to Latin America, East Asia transactions lead the way in the volume of crypto transactions. Many of those payments are commercial transactions between Asia-based exporters and Latin America companies.