Latam Insights: Solana Expands to Brazil, Tether Seeks to Expand in Venezuela

Share This Post

Latam Insights: Solana Expands in Brazil, Tether Seeks to Expand in Venezuela

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Solana announces its expansion to Brazil, Tether seeks to expand in Venezuela, and Bitcoin Argentina advises to receive bitcoins in the upcoming asset regularization process.

Solana Announces Expansion to Brazil

The Solana Foundation, a nonprofit institution behind the organization and funding of Solana ecosystem initiatives, has reported it will expand to Brazil, opening a local group and announcing investments for over $10 million in Web3 projects.

The group is what Solana calls a “Superteam,” focused on developing apps and experiences using the Solana blockchain and its scalability. The Solana Foundation has already launched superteams in seven countries apart from Brazil, giving opportunities and paid jobs to hundreds of members.

The investment will be focused on Web3 initiatives linked to art, asset tokenization, and artificial intelligence. The foundation considered Brazil as one of its core expansion markets by 2024.

Diego Dias, head of Solana’s Latam group, stated:

Our intention at the Solana Foundation is to have a diminishing influence on the ecosystem and empower our community to lead the future of Solana.

Tether Hints at Expansion in Venezuela

Tether, the stablecoin company behind the issuance of USDT, the largest stablecoin in the cryptocurrency market, wants to expand its influence in Venezuela. The company is seeking an expansion manager responsible for “identifying and pursuing new business opportunities, maintaining relationships with existing customers, and collaborating with internal teams to develop go-to-market strategies.”

Tether’s announcement has been taken by some as surprising, given that the country’s cryptocurrency trading and mining operations have been significantly affected by the actions of the government after detecting that Joselit Ramirez, former head of Sunacrip, the national crypto watchdog, was involved in a multi-billion oil sales corruption scheme.

No more announcements about the activities the company aims to develop in the country have been issued.


Bitcoin Argentina NGO Advises Government to Receive Bitcoin in the Asset Ownership Regularization Program

Bitcoin Argentina, an NGO that aims to increase the level of Bitcoin adoption in the country, has advised the Argentine government to receive Bitcoin instead of dollars in the asset ownership regularization program included in the recently proposed Omnibus Bill.

Ricardo Mihura, president of Bitcoin Argentina, lamented that the proposed draft, which will be discussed in Congress, only allowed payments in dollars for regularizing cryptocurrency ownership. Mihura stressed that even if the bullish volatility of BTC would make it risky to sell this bitcoin “keeping them in the portfolio would further improve its reserve position, and nothing would prevent it from putting the bitcoin at any time as collateral to obtain foreign currency at a very low cost, if such were the needs for liquidity.”

To follow all the latest developments in crypto and the economy in Latin America, sign up for our Latam newsletter below.


What do you think about this week’s Latam Insights report? Tell us in the comment section below.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Dominance Sliding Below This Level Could Signal Start Of Altseason, Trading Firm Says

Bitcoin (BTC) continues its historic price trajectory, trading in the low $90,000 range at the time of writing However, a trading firm suggests that Bitcoin dominance (BTCD) falling below a crucial

Chris Pavlovski Stirs the Crypto Pot—Should the Video Platform Rumble Hold Bitcoin?

On Tuesday, shortly before bitcoin (BTC) reached a lifetime high of $94,057 per coin, Rumble CEO Chris Pavlovski sparked interest on X He posed a question to his 289,300 followers, asking whether

Trump taps crypto advocate Howard Lutnick as commerce secretary

President-elect Donald Trump announced Howard Lutnick, CEO of financial services firm Cantor Fitzgerald, as his nominee for Secretary of Commerce on Nov 19 The decision positions Lutnick, a vocal

Bitfinity bridges Bitcoin and Ethereum with new Layer-2 mainnet, raises $12 million

Bitfinity Network, a Bitcoin Layer-2 solution compatible with the Ethereum Virtual Machine (EVM), has officially launched its mainnet after raising nearly $12 million, according to a Nov 19 statement

PEPE Is Mirroring The Dogecoin Price Breakout Of 2021, Here’s How

Max Schwartzman, the CEO of Because Bitcoin, has provided a bullish outlook for PEPE He stated that the meme coin is mirroring the Dogecoin price action in the 2021 bull run and explained exactly how

Bitcoin Mining Firm Compass Establishes 30 MW Site in Iowa

Compass Mining is constructing a new Bitcoin mining facility in Iowa, aiming to expand its self-owned infrastructure portfolio in the United States Compass Mining’s Iowa Expansion Highlights