ChainCatcher news, the new bank Littio in Colombia, Latin America, is switching its blockchain network from Ethereum to Avalanche for a product called Yield Pots, which allows users to earn interest on their dollar deposits.Littio provides exposure to Yield Pots through a partnership with OpenTrade, a London-based company that develops yield products using real-world assets such as stablecoins and U.S. Treasury bills.

ChainCatcher news, according to CoinDesk, the Latin American cryptocurrency exchange Ripio has partnered with Visa to launch a DeFi credit card that allows users to spend 30% of their crypto assets locked in the Compound liquidity pool.The card supports various cryptocurrencies including Bitcoin, Ethereum, USDC, USDT, and Ripio's stablecoin UXD. This card is currently in the testing phase, and users can apply by joining the waitlist. Ripio previously launched a Visa prepaid card supporting cryptocurrencies in 2022, offering Bitcoin cash rewards.

ChainCatcher news, USDT stablecoin issuer Tether has acquired a 9.8% stake in Latin American agricultural giant Adecoagro. Argentine media reports that the company invested $100 million to diversify its investments in the agriculture and food sectors. Adecoagro is valued at over $1 billion and has direct operations in Argentina, Brazil, and Uruguay.According to reports, the company is a major milk producer in Argentina and manages over 193,000 hectares of sugarcane crops in Brazil, producing refined sugar and ethanol. This is one of Tether's initial investments in the sector, and prior to this, Tether has expanded its business into areas such as green energy, Bitcoin mining, artificial intelligence, and educational programs.

ChainCatcher news, according to CoinDesk, Latin American e-commerce giant Mercado Libre's digital bank Mercado Pago has announced the launch of a dollar-pegged stablecoin "Meli Dollar" in Brazil. Users can buy and sell this stablecoin using their Brazilian real balance without any fees. This move aims to provide users with a practical and stable financial management tool.Previous news, Latin American e-commerce giant Mercado Libre has launched cryptocurrency in Brazil.

ChainCatcher news, ZKsync developer Matter Labs has announced its entry into the Latin American market, choosing Buenos Aires, Argentina as its regional headquarters. Matter Labs executives will meet with local economic leaders, policymakers, and crypto innovators at the end of August to explore collaboration opportunities.

ChainCatcher news, according to Bitcoin.com, a recent survey by Binance shows that Latin American investors prefer to use cryptocurrencies as long-term savings and investment tools rather than as day trading assets.The Binance survey, which polled 10,000 users from Latin American markets such as Argentina, Colombia, Brazil, and Mexico, found that 50.3% of respondents prefer to use cryptocurrencies as investment tools. 18.8% of respondents stated that they trade these assets daily.The Binance survey also identified other use cases, including peer-to-peer (P2P) trading (8.4%), decentralized finance applications (8.2%), and purchases (4.9%).

ChainCatcher news, according to the official announcement, Binance has appointed Guilherme Nazar as the head of Latin America to further develop the cryptocurrency industry across the entire region. He will focus on driving innovation, increasing adoption, and designing and implementing user-centric Binance business strategies.Currently, Binance Mexico General Manager Frida Vargas and Daniel Acosta, who is responsible for Colombia, Central America, and the Caribbean, will continue to lead their local markets and report to Nazar.

ChainCatcher news, cryptocurrency market research and analysis company Kaiko found that cryptocurrency users in Latin America prefer stablecoins over Bitcoin. In its latest Latin American market report released in June, 40% of the trading volume involved USDT.Similarly, nearly half of the trades involving the Brazilian real also included stablecoins, Kaiko explained, due to the instability of the Brazilian currency and inflation in the region. The report analyzed data from seven cryptocurrency exchanges that offer trading pairs, including Kucoin, Binance, Mercado Bitcoin, Bitso, Htx, Okx, and Bitfinex.

ChainCatcher news, according to its Q1 2024 filing, Latin American e-commerce giant Mercado Libre holds over $40 million in cryptocurrency. The company revealed that as of March 31, it held 412.7 bitcoins and 3,041.6 ethers.However, its Chief Information Officer Richard Cathcart explained: "Mercado Libre does not own these assets; the company liquidated its cryptocurrency in 2023. This document reflects the fact that we provide users the ability to buy, hold, and sell. But currently, we do not have any ourselves."

ChainCatcher news, the gaming guild Merit Circle has announced the acquisition of equity in Snackclub, a Latin American organization specializing in user acquisition, influencer marketing, and esports. Snackclub has also joined the gaming subnet Beam Beam. As part of this acquisition, Merit Circle will obtain equity in Snackclub.In addition, Merit Circle will receive a token allocation previously reserved for the Snackclub team, which will be used to stimulate games in the DAO portfolio.

ChainCatcher news, according to Cointelegraph, Latin American digital finance company Galactic Holdings announced that it has recently completed a Series A financing round, raising a total of $6.25 million. The financing was led by Galaxy Interactive and Dragonfly, with participation from several institutions including SHK. The funds will further promote the development of Galactic Holdings' sub-brands such as the TruBit wallet, TruBit Pro exchange, and the Mexican stablecoin MMXN in the Latin American market, while accelerating the expansion of cross-border payment services in other countries.Currently, TruBit has successfully established compliant channels for three major fiat currencies: Mexico, Argentina, and Brazil, providing users with the service to buy and sell cryptocurrencies directly through bank transfers; the company has also launched a Mastercard cryptocurrency prepaid card, covering a comprehensive range of digital financial solutions including local and cross-border payments, spot and contract trading, as well as large-scale over-the-counter transactions.According to the crypto data platform RootData, in April 2023, Galactic Holdings announced the completion of a $10 million Pre-A financing round. This round was led by BAI Capital, with participation from Animoca Brands, Y2Z Ventures, Longling Capital, Head & Shoulders, TKX Digital Group, Perseverance Capital, and Palm Drive Capital.

ChainCatcher news, according to Bitcoin.com, Binance's Vice President for Latin America, Min Lin, stated that the trading platform intends to operate under regulation in Argentina after the specific laws for cryptocurrency brokerage licenses are approved. Min Lin mentioned that the company is in discussions with regulators to introduce innovations within the regulatory framework and prioritize the introduction of user protection measures.

ChainCatcher News, the U.S. compliant cryptocurrency trading company Legend Trading announced a partnership with Circle to launch USDC rapid trading and settlement services in the Asia-Pacific and Latin America regions, aimed at facilitating local institutional users in acquiring and using USDC.Legend Trading stated that its trading settlement system is integrated with the underlying banking network, ensuring seamless and rapid automatic conversion between USDC and fiat currency.

ChainCatcher news, according to the official announcement, Binance has launched the "Send Cash" service in Latin America. The new solution allows Binance users in 9 countries in the region to transfer from cryptocurrency to bank accounts more conveniently, quickly, and economically.The first phase of Send Cash will target Binance users in Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, the Dominican Republic, Panama, and Mexico, allowing them to transfer cryptocurrency to recipients with bank accounts in Colombia and Argentina at the lowest cost in the market through Binance Pay.

ChainCatcher news, according to The Block, Circle announced on Tuesday that it is partnering with Latin American payment giant Mercado Pago to launch the USDC stablecoin for customers in Chile.Circle stated that the integration of USDC with the Mercado Pago platform will enable Chilean users to "take advantage of a trusted, secure, and transparent digital dollar asset for near-instant transactions."

ChainCatcher news, Tether's Chief Technology Officer Paolo Ardoino stated on social media that Tether's Bitcoin mining facility in Latin America is set to begin operations in a few weeks, but the specific location cannot be disclosed to avoid disturbances; the site is progressing well, and team members are working day and night.In addition, Tether launched the "Tether Energy" program a few months ago and is partnering with companies around the world to provide support such as funding, infrastructure, development, and general expertise to build renewable energy production and Bitcoin mining facilities. Tether believes that Bitcoin mining must be geographically decentralized as much as possible, with the goal of reducing the current high concentration in specific countries.

ChainCatcher news, according to Cointelegraph, Binance will suspend its crypto debit card services in Latin America and the Middle East starting August 25, and will terminate cryptocurrency debit card services in the region on September 21. Binance stated that users can apply for fund refunds before December 20, 2023.In this regard, Binance did not disclose the specific reasons for the suspension, but stated that it would only affect 1% of users in the aforementioned regions.

ChainCatcher news, according to The Block, Bakkt's CEO Gavin Michael stated that the company has recently made several acquisitions and partnerships, and is also expanding into international markets, set to launch in Latin America in the fourth quarter, followed by launches in the UK, EU, Hong Kong, and Australia.

ChainCatcher news, Latin American cryptocurrency service provider Ripio has announced the launch of the USD stablecoin UXD. The company stated on Thursday that in Argentina, where the annual inflation rate has reached 115%, Ripio users can already purchase the UXD stablecoin, also known as Criptodólar. This stablecoin is also available in Brazil and is hosted on LaChain.It is reported that LaChain is a Layer 1 blockchain focused on Latin America, launched by Ripio in June in collaboration with SenseiNode, Num Finance, Cedalio, and Buenbit. The company also plans to integrate UXD into its Ripio card.