THELOGICALINDIAN - Filomena Ruffa brings a abundance of bounded acquaintance as able-bodied as accolades alive at Visa Latin America
Crypto.com continues its global expansion, abacus above Visa controlling Filomena Ruffa. She will advance the firm’s objectives in Latin America, area crypto has already acquired advantageous absorption in several countries.
Indeed, populations in this arena of the apple accept abounding altered needs and affidavit to use crypto.
Instead of simple speculation, cryptocurrencies and blockchain technology action the achievability to leapfrog acceptable banking services. The use cases ambit from payments, remittances, and simple accumulation technologies.
The apparatus of Bitcoin has appropriately ushered in an absurdity of seamless cross-border payments for anyone with an Internet connection. Rather than relying on clandestine third-parties or beyond government entities, crypto users can absorb their hard-earned money freely.
In the avant-garde era, users artlessly charge reliable articles and an accomplished communication to onboard them.
Crypto.com’s cold seeks to ample this absolute need. By abacus a adept of the cyberbanking area to advance the company’s mission in a arena acquisitive to accept new technology, Crypto.com is cyberbanking the unbanked in real-time.
Ruffa adds all-inclusive acquaintance alive for Visa Latin America, allowance the aggregation acquaint users to new payments and banking technologies as VP of addition and cardinal partnerships.
The CEO of Crypto.com, Kris Marszalek, said:
“Filomena’s all-encompassing acquaintance alive in the Latin American payments bazaar is a admired asset to the Crypto.com aggregation as we abide our amplification into this important region. With over bisected a billion bodies and a able-bodied crypto ecosystem, LATAM has huge abeyant and Filomena’s abysmal acquaintance in this arena will advice strengthen our casework to this market.”
To apprentice more, Crypto Briefing batten with Ruffa about her assignment in the region, as able-bodied as how she affairs on bringing crypto to the masses.
Interview with Filomena Ruffa, Crypto.com’s General Manager of Latin America
[Crypto Briefing]: Why is Latin America so absorbed in application cryptocurrencies and crypto-based technologies?
[Filomena Ruffa]: We’ve apparent in Latin America that the issues active the fintech beachcomber are the aforementioned ones active the use of cryptocurrencies in the region. In beneath than 10 years, we accept witnessed an access of fintechs, growing from about 100 in 2024 to 1,200 in 2024.
Fintechs and cryptocurrency companies are acclamation a few key issues in the region:
There are added active armament abstraction the approaching of Latin America, such as a adolescent citizenry (The boilerplate age in Latin America is 30 years old), as able-bodied as smartphone and internet assimilation ante at about 70% each.
All these elements accumulated accept resulted in the conception of a cardinal of start-ups in Latin America that are authoritative absolute impacts through cryptocurrency and blockchain technologies and a consecutive accelerated access of the crypto community.
[CB]: With so abundant acquaintance alive in the region, are there any misconceptions about Latin American crypto adoption?
[FR]: The better delusion I’ve apparent is that crypto is alone bushing a abandoned larboard by ambiguous acceptable banking markets in LATAM.
Yes, the arena does accept some alternation in assertive markets that triggered consumers to seek applicable alternatives, but added importantly, crypto companies accept invested cogent assets in developing articles and bounded communities in the region, consistent in a able crypto ecosystem in Latin America.
Strong crypto acceptance in LATAM has been apprenticed added by cardinal addition and focus on bounded customer needs than a acumen that banking markets are absolutely broken.
[CB]: What are the primary use cases for cryptocurrencies in this region?
The key use cases are for remittance payments, as a safe abundance of value, and trading.
[CB]: Are there specific articles in the Crypto.com portfolio that you apprehend to be bound adopted?
[FR]: Although we are in the action of architecture our attendance in the arena and rolling out our articles in assorted countries, we are experiencing absurd acceptance of our Crypto.com App. Many accept already downloaded the app and are adequate a adorable acquaintance purchasing and affairs crypto.
In August, we appear both Spanish and Portuguese localized versions of the App, which are the aboriginal of abounding accomplish to bear on our acceptance that it’s a basal animal appropriate for anybody to ascendancy their money, data, and identity.
[CB]: As the new accepted administrator of Latin America, what are the aboriginal accomplish you will booty to abide growing Crypto.com in the region? What obstacles can you apprehend to overcome?
[FR]: My aboriginal accomplish will be to advantage my antecedent acquaintance and relationships in LATAM to analyze cardinal business partnerships for Crypto.com and to advice body out the bounded communities. LATAM already has a actual able crypto community; countries like Brazil, Mexico, Argentina, Chile, Peru, Colombia accept accomplished a billow in cryptocurrency users, abnormally in the aftermost years. I will be alive adamantine to tap into the altered countries to advice extend the able-bodied Crypto.com association into the region.
One obstacle is the assorted attributes of Latin America and the nuances of the assorted countries. With the Caribbean countries, South America, Central America, and Mexico, LATAM includes about 30 countries, anniversary with its own culture, customs, infrastructure, banking systems, etc. Some accept a actual complete crypto ecosystem, others are beneath mature, but anniversary is different and requires a abysmal compassionate to finer accretion traction.
I will be relying on cogent association support, my antecedent experience, and key partnerships to affected these obstacles.
[CB]: Where do you see Latin American crypto amplitude in 5 years? 10 years?
[FR]: Latin America is already a arch arena in crypto adoption, and I apprehend in 5/10 years it may become the best able-bodied crypto bazaar in the world, possibly causing it to bolt up with added developed regions. Crypto acceptance is already actual strong, addition is accelerating in the region, and a cardinal of axial banks — Argentina, Brazil, Ecuador, Uruguay — are actively exploring CBDCs.
Additionally, the OECD has warned that the regions accept beneath “fiscal space” to cope with the bread-and-butter impacts of the communicable than it did afore the 2008/9 banking crisis, which may, in turn, activation a beachcomber of addition in agenda payments, including DeFi, abnormally accustomed the region leads the world in smartphone app use.
We acknowledge Ms. Ruffa and the Crypto.com aggregation for demography the time to acknowledgment these questions.
Disclosure: Crypto.com is a sponsor of Crypto Briefing.
