According to research provided by the Association for Private Capital Investment in Latin America, venture capital investments in crypto and blockchain companies in Latin America reached $653 million in 2021, about ten times what was invested in 2020. (LAVCA).
Consumer-facing asset exchanges and retail trading platforms received $607 million in investments.
In contrast to VC investments in crypto in the region, which totalled only $68 million in 2020, crypto investment in Latin America has continued to grow.
According to CB Insights’ “2021 State of Blockchain” study, VC funding for blockchain businesses hit $25.2 billion last year, up 713 percent from $3.1 billion in 2020.
In May 2021, Bitso, a Mexican crypto exchange with operations in Argentina and Colombia, raised $250 million and became Latin America’s first crypto unicorn. Mercado Bitcoin, Brazil’s largest cryptocurrency exchange, raised $290 million in three stages and is now valued at $2.2 billion.
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