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“I have a day. If I know how to make the most of it, I have a treasure.” - Gabriela Mistral (Chilean Nobel Laureate in literature)
October 17, End Of Day
As economic instability and currency devaluation continue to challenge many countries, Latin America is rapidly emerging as a significant player in the global cryptocurrency landscape. With growing adoption, the region is leveraging crypto not only to address financial challenges but also to fuel innovation and investment. However, this rapid growth presents both opportunities and challenges that require attention. Here are key insights from a recently published report by Chainalysis.
1. Latin America’s Rapid Crypto Adoption
2. Stablecoins as a Solution to Economic Volatility
3. Challenges and Opportunities in the Region
Rentennials: Rentennials is a peer-to-peer carsharing platform that connects local vehicle owners with renters. The platform has over 600 cars available for rental and has facilitated more than 2,600 rentals across six countries. Dive deeper into the case here.
Limay Biosciences: Limay Biosciences develops rapid molecular testing solutions, achieving bacteria detection up to 70x faster. Their micro portable devices enable critical, point-of-need diagnostics, significantly reducing risks associated with treatment delays. Dive deeper into the case here.
Adelántalo: Adelántalo is revolutionizing the logistics industry by providing immediate financial liquidity to underserved truckers. Their innovative platform offers same-day payments and embedded factoring, ensuring truckers get paid after unloading. Dive deeper into the case here.
Dive deeper into other fundraising firms in LatAm here.
Argentina: Argentina's trade surplus has reached nearly $16 billion since President Javier Milei took office, marking ten consecutive months of surpluses. In September alone, the surplus was estimated at $1.28 billion. Key sectors driving the surplus include agriculture, mining, and hydrocarbons. The energy sector is expected to contribute a $4.2-5 billion surplus for 2024, supported by increased domestic production and lower energy demand. These surpluses contrast with last year's trade deficits, aiding Argentina as it navigates triple-digit inflation and a challenging recession.
Mexico: America Movil reported a 217% increase in Q3 net profit, reaching $326.37 million, largely due to a weaker peso and lower financing costs. Revenues grew nearly 10% to $11.35 billion, while core earnings (EBITDA) rose 12%. The company added 1.8 million subscribers, mostly in Brazil. It remains focused on 5G expansion across Latin America through 2025 and is exploring a potential collaboration with Elon Musk's SpaceX to enhance its mobile services.
Colombia: In Colombia’s jungle, farmers are transitioning from coca cultivation to eco-tourism, offering new livelihoods. Former deforesters now guide visitors to ancient cave paintings at Cerro Azul and pink aquatic plants at Cano Sabana. This shift follows the 2016 peace agreement with FARC, opening areas once dominated by conflict and drug production, helping preserve natural and cultural sites.
Check our recently published insights here. Recent post:
The Current State of Edtech in Latin America
As the world embraces digital transformation, Latin America is experiencing a significant surge in EdTech investments, particularly following the COVID-19 pandemic. In 2021, the region saw a sixfold increase in funding, propelled by the demand for a technically skilled workforce and the growing trend of nearshoring.
Key Growth Drivers:
