LATAM market welcomes CoinsPaid, one of the largest crypto payment providers

TALLIN, Estonia, Dec. 17, 2021 /PRNewswire/ -- CoinsPaid, the world's second-largest crypto processing company cooperating with SEPA and SWIFT, is ready to enter the booming LATAM market, home to the world's biggest number of crypto users.

Latin America has been in economic turmoil for years, but – somewhat ironically – that's what made it a powerhouse of crypto adoption. Raging inflation (up to 50% in Argentina and 10.7% in Brazil in 2021), coupled with high unemployment and declining reserves, are pushing consumers towards cryptocurrency as an alternative to the weak and wobbly national currencies.

Remittances are a particularly striking example. According to Chainalysis, Latin Americans working abroad sent $400m in crypto to their home countries each month in April and May 2021, up from just $100m a month in 2020. 

The need for fast and cost-effective crypto payment solutions in the region creates perfect conditions for the entry of CoinsPaid - a globally recognized crypto processing provider that handles 7% of all on-chain BTC transactions. With over 800 merchants served worldwide and $4.7 billion worth of crypto processed in 2021 alone, CoinsPaid is the second largest crypto payment company in the world – and the recipient of the recent AIBC Summit Payment Provider of the Year award.

Having established its leadership in Europe, EU-licensed CoinsPaid is finally bringing its cutting-edge payment solutions to Latin America. Merchants that integrate the CoinsPaid gateway can expect to save up to 80% in payment costs – and even boost user conversions by up to 35%. For those who wish to save even more, CoinsPaid offers discounts of up to 50% on service fees when using utility token CPD.

CoinsPaid currently supports 30+ cryptocurrencies, including BTC, USDT, ETH, LTC, BCH, ADA, and DOGE, as well as 20+ fiat currencies. It's also one of the very few providers to enable fiat settlements directly to a bank account – and the only one to have successfully passed two advanced cybersecurity audits by Kaspersky Labs and 10Guards.

With a fast and efficient crypto processing gateway, a top-notch Business wallet, an OTC exchange, and even a SaaS payment platform, CoinsPaid is set to make waves in the LATAM payment market. In a region where less than half of the population use bank cards, CoinsPaid's products will provide the much-needed relief for businesses and consumers alike.

More information on CoinsPaid, its recent awards and achievements is available at https://coinspaid.com/.