Digitalization in Latin America is becoming more and more prominent! America According to a recent report by Worldplay, Pix payments account for 30% of all e-commerce transactions in Brazil.merce no Brasil. Not only that, but the increased use of the instant payment tool has transformed commerce throughout Latin America and brought about a significant change in digital transactions.

The Global Payments Report, which monitors the progress of payment methods around the world, states that Brazil ranks tenth among the largest e-commerce markets and has a worldwide turnover of US$ 95 billion.

In other words, Pix is the means of payment that is popularly adopted by Brazilian consumers and its success is very great and it has become a great facilitator of digital means of payment throughout the country, thus being a breakthrough in digitalization in Latin America.

Understanding the Popularization of Financial Innovations

Financial innovations have become increasingly popular over time and the main ones involve the expansion of Pix in Latin America, the development of CBDCs and the growth of the tokenization market.

In recent years, these measures have been widely adopted because they provide ease and convenience for individuals wishing to make payments. You can also invest in security and diversify your portfolio.

In an era of rapid digitalization in Latin America, understanding how each of these innovations works is crucial for companies and individuals who want to take advantage of the opportunities these resources bring.

Expanding Pix in Latin America

Pix’s expansion in Latin America has shaped people’s payment preferences, as it is a simple way to transfer money from one bank account to another instantly.

It is currently used by 77% of Brazilian citizens and has become very important for commerce and financial transactions, since it has 150 million active users and moves around US$ 3.9 billion. This data is collected by Prime Time For Real – Time 2024, developed by ACI Worldwide, which is a real-time payments software company.

This data is collected by Prime Time For Real – Time 2024, developed by ACI Worldwide, which is a real-time payments software company. In 2023 alone, 37.4 billion transfers were recorded in real time, which is equivalent to around 14% of the world’s transactions and 75% of banking transactions carried out in Latin America alone.

According to the survey, the number of instant transfers made on Brazilian soil is expected to rise to 115.8 billion by 2028, representing an increase of 25.4% between 2023 and 2028. By 2028, instant transfers are expected to account for half of all electronic transactions carried out in Brazil.

Development of CBDCs

Another financial innovation that has stood out in Brazil is the development of CBDCs (Central Bank Digital Currency), which in the country is called Real Digital, the Brazilian DREX and is scheduled to be made available to the public at the end of 2024. In general terms, a CBDC stands for “Central Bank Digital Currency”.

The project in question aims to transform paper money into digital currency to facilitate users’ daily routines. However, this type of financial innovation is not exclusive to the Central Bank; other countries around the world have also actively developed and implemented CBDC.

In general, the resource in question is a state currency developed by a country’s Central Bank in order to invest, make payments, save, set prices and various other banking tasks.

Growth of the Tokenization Market

The growth of the tokenization market is also shaping the scenario and its main objective is to offer security and convenience in online transactions. It offers a higher level of security, has stood out as a digitalization resource in Latin America and by 2030 the tokenization of assets could reach US$16 trillion, which corresponds to around 10% of global GDP.

This is a 50-fold increase compared to the growth in 2022. In relation to the expected total, a large part is made up of real assets, according to results from Boston Consulting (BCG), Binance and JP Morgan.

As users prioritize asset security, the tokenization solution has become more sought after. This is the answer to the growth that the tokenization market will experience over the next eight years and is therefore considered an important advance in digitalization in Latin America.

When understanding the evolution as a result of tokenization, it is also necessary to consider the importance of blockchain networks, such as BLOCKBR, which are responsible for registering tokens, which can be financial and other assets. In this context, it is possible to sell any asset in token format without any problems and with a higher level of security.

Is the New Era of the Digital Economy Here?

The digital economy has undergone several significant transformations in recent years and each of the innovations has stood out for providing a variety of benefits to users, such as ease, convenience and savings.

As banking institutions and individuals follow financial trends, such as the replacement of traditional currency with digital ones, it is possible to notice the enormous digitalization in Latin America, especially with regard to cryptocurrencies and blockchain networks. Both are being adopted by companies and individuals around the world, especially in Brazil.

Nowadays, consumers have a variety of payment options to choose from, as well as access to unlimited possibilities. These factors are not only advantageous for consumers, but also for establishments and Brazilian industry.

The era of digitalization in Latin America has arrived and offers a variety of possibilities for people who want to exploit the potential of each of the financial innovations, such as the expansion of Pix in Latin America, the development of CBDC and the growth of the tokenization market, advances that have been widely adopted for different financial purposes.

The growth of Pix and other financial innovations has become a highlight of digitalization in Latin America, as it offers advantages such as convenience, ease and an economical way of carrying out financial transactions. To tokenize and increase your investment portfolio, count on BLOCKBR!

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The unlocking of the capital market, giving access to new types and structures of investments through tokens, is bringing a universe of opportunities every day. Blockchain technology is an environment of high security and transparency, as well as being a backdrop for the creation of new operating models.

To understand which tokenization model and infrastructure you can use in your operations, you just need to understand the opportunities you can take on, whether as a structurer, originator or distributor/investor.

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