Cryptocurrency adoption in Peru surpasses 1 million users
According to a report by Sherlock Communications, the growth in cryptocurrency adoption in Peru is reflected in more than 1 million users. A clear regulatory framework is expected to emerge soon
In its sixth “LATAM Blockchain Report 2025: Ecosystem and Regulatory Updates in Latin America,” Sherlock Communications revealed that cryptocurrency adoption in Peru has surpassed 1 million users and that the South American nation is moving toward establishing a clear regulatory framework.
The agency indicates this increase in crypto adoption is driven by the “search for economic protection and facilitated by interoperability with local digital wallets. It is being accompanied by the government’s first steps to establish a clear regulatory framework.”
According to Sherlock Communications, there are currently more than 1.28 million cryptocurrency users in Peru, equivalent to approximately 3.7 % of the population, clearly indicating that the number of digital currency users has doubled in less than two years.
With these figures, the country is ranked 42nd in Chainalysis’ Global Crypto Adoption Index 2024, a jump from 49th in 2023. Furthermore, Peru has consolidated its position as the seventh-largest crypto market in the region in terms of transaction volume, the publication added.
In the Latin American nation, citizens are turning to cryptocurrencies as a form of investment or as a hedge against economic uncertainty. Stablecoins, known as “crypto dollars,” represent approximately 12 % of user assets on the main platforms.
M.Pino
Source: cointelegraph
(Reference image source: Kanchanara on Unsplash)
Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram
