Uphold CEO: Latin America Stands To Gain Most From Digital Assets

JP Thieriot, the CEO of Uphold, mentioned that the nature of life in Latin America begs for use cases based on BTC.

The head of multi currency investment platform Uphold, mentioned that El Salvador’s BTC espousal has triggered a crypto asset revolution in Latin America, and the area might benefit even more if individuals can exchange virtual currencies, fiat money and the imminent CBDC on the same infrastructure.

He mentioned that BTC would be adopted first by the unbanked and those who send or receive remittances. Nevertheless, central bank digital currencies would become more popular than the largest digital assets for merchants. He added,

“Many businesses may understandably prefer something stable for transactions, but investment portfolios would be much more benefited by Bitcoin.”

He further mentioned,

“With the appropriate channels in place to convert between Bitcoin, U.S. dollars and any potential CBDCs, users could really just use whichever form of currency works best for their use case.”

Essentially, this signifies that the families who are dependent on remittances don’t have to witness ten to twenty percent of their income emptied out by money transfer organisations. Thieriot concluded that this means that anyone can start structuring an investment portfolio, which might basically change the standard of living.