Report: in Latin America, investments in the cryptocurrency industry have reached $653 million in 2021 year – Bits Media

Association of Private Investments in Latin America (BENCH) reported, that over the past year the amount of investments in the cryptocurrency industry has grown by almost 10 times compared to the indicators 2020 of the year.

According to the report, presented by LAVCA, growth rate of investments in DeFi, Blockchain and cryptocurrencies have significantly outpaced investment growth in more traditional sectors of the economy. Investments in these areas have reached $653 million last year, increasing almost ten times compared to the indicators 2020 of the year, when this amount was $68 million. For comparison, investments in traditional sectors of the economy grew slightly more, than three times, Having reached $15.7 billion, whereas in 2020 year this figure was $4.14 billion.

Most of the investments were raised during funding rounds of four large companies: Bitcoin Market, Name, Ripio and Lemon Cash. Recall, that last week the Bitso cryptocurrency exchange, continuing its regional expansion, announced the creation of a representative office in Colombia. Besides, Last year, the Gemini cryptocurrency exchange entered into a partnership with the largest bank in Colombia, Bancolombia., within which bank clients will have access to trading digital assets.