In this interview with CalvinAyre.com’s Becky Liggero, Tiago Almeida of eGaming Services explains how banking challenges in Latin American markets present opportunities for cryptocurrencies.
In recent years, the Latin American market has been a bright spot for investors, operators, and technology suppliers amid the changing global gambling policies.
The region is composed of 33 countries and a total population of more than 645 million, with Brazil and Colombia presenting the largest current opportunities for operators.
But like other gambling jurisdictions, investing in the Latin American market has its downside. Tiago Almeida of eGaming Services pointed out that getting money onto gambling websites remains a challenge, primarily because credit cards don’t always work as they do in Europe.
“So, operators who want to start their operations in Latin America or want to expand their operation in Latin America need to take this in consideration and offer solutions that are not only credit card deposits but also wallets and Astro Pay,” Almeida said. “With all the bank accounts that they have, solutions like Safety Pay, which gathers bank accounts, not only helps get money in, but also get money out.”
Almeida noted that the banking challenges also present opportunities for cryptocurrencies. Most people in the Latin American region are very much interested in the use of these new technologies.
In Brazil, Almeida said residents there have immediately understood the potential of cryptocurrencies, in part because central banks in the Latin American region do not raise a lot of questions.
“Keep in mind that banks in Brazil, their financial products, they offer very nice interest rates. So, people are actually looking at cryptocurrencies as something that they can have,” he said. “I know recently that the enthusiasm has a bit lost because of this big fluctuation but I am sure that during the World Cup, the transaction volumes will grow and the prices will go off the roof again.”
