Latin America’s crypto scene continues to evolve, with new products and regional expansions highlighting its rapid growth.
Bybit, one of the world’s leading cryptocurrency exchanges, has announced a major expansion into Latin America, focusing on key markets like Argentina, Mexico, Colombia, and Chile.
On the other hand, Panama City is taking a bold step toward technological innovation by allowing the payment of municipal taxes using Bitcoin and Ethereum.
Bybit’s strategic growth in Latin America
With daily trading volumes over $4 billion, Bybit has named Patricio Mesri as the new manager to oversee operations in the region.
This approach intends to boost crypto acceptance by using financial inclusion measures and forming partnerships customised to local needs.
Bybit’s entry into Latin America is part of a larger effort to deliver secure and user-friendly cryptocurrency solutions to growing countries.
With a diverse product offering including futures, options, and stablecoin trading, the exchange is dedicated to enabling customers in Mexico, Chile, and Peru.
Bybit is also working to advance the region’s Web 3.0 ecosystem by encouraging blockchain education and supporting decentralised technology.
Panama City embraces crypto for tax payments
Panama City is taking a significant step toward technological innovation by allowing residents to pay municipal taxes with Bitcoin and Ethereum.
Led by Mayor Mayer Mizrachi, this project establishes the capital as the first in the country to use cryptocurrency for public services.
The shift, scheduled to begin on May 29, 2025, reflects Panama’s growing interest in blockchain technology, despite provoking both enthusiasm and debate among citizens and experts.
Mayor Mizrachi defended Towerbank’s crypto tax payment scheme, suggesting that it may serve as an example for other Latin American cities and nations.
However, questions have been raised about potential conflicts of interest and the lack of a clear regulatory framework.
Panama’s tax laws on cryptocurrencies remain murky, and critics warn that the volatility of digital assets may burden governmental finances.
Despite this, the city’s leadership views the project as a step toward increased transparency, efficiency, and international investment.
Robinhood to acquire Canadian cryptocurrency firm WonderFi
Robinhood Markets Inc. announced Tuesday that it has acquired Canadian cryptocurrency firm WonderFi Technologies Inc. in an all-cash deal worth C$250 million (US$179 million), marking a major step in its international expansion and efforts to strengthen its digital asset portfolio.
The deal values WonderFi shares at 36 Canadian cents each—a 41% premium to their last closing price.
The acquisition continues Robinhood’s strategy of evolving beyond its origins as a commission-free stock trading platform and building a more diverse financial ecosystem.
Robinhood’s acquisition spree, including its $200 million purchase of crypto exchange Bitstamp in 2024, highlights its commitment to scaling its crypto operations.
By acquiring established platforms like Bitbuy and Coinsquare, the company gains both market access and a ready user base in Canada.
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