Cryptocurrency exchange FTX plans to expand its business in Central and South America, seeing huge opportunities in the region.
FTX CEO Sam Bankman-Fried said that Latin America is currently the best place to adopt cryptocurrencies and will only grow in the future. At the same time, digital currencies will be used in various spheres of life of citizens. First of all, these are crypto payments. In the Latin American region, there is a potential of $128 billion, which has not yet been digitized, the businessman notes.
Benman-Fried believes that a new stream of payments and remittances could benefit from a native cryptocurrency pegged to the value of local fiat currencies. Tether, the issuer of the USDT stablecoin, is already trying to do something similar. In May, it launched a new stablecoin, MXNT, pegged to the Mexican peso. It is assumed that it will be possible to move it on the Ethereum, Tron and Polygon blockchains.
FTX is interested in developing business in the region, but has no concrete plans yet. According to the CEO, representatives of the crypto exchange have already communicated with potential partners in Latin America:
“I think eventually we will acquire some local company. However, I can’t say anything concrete yet. We have a list of several firms that we are currently reviewing.”
Earlier, Bloomberg said that FTX plans to buy the South Korean crypto exchange Bithumb, as it allegedly has problems that FTX seeks to solve.
Source: Bits
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