In a recent disclosure, the fintech firm Kushki, based in Ecuador, shared that over 50% of young adults, specifically those born around 2000, in Chile prefer digital methods for making transactions. These tech-savvy individuals are also well-informed about cryptocurrency and its various applications.
Centennials in Chile Are Familiar With Digital and Crypto Settlements
In simpler terms, Latin America is rapidly adopting digital and technology-driven payment systems, encompassing both traditional fiat transactions and cryptocurrencies. Kushki, a payment company based in Ecuador but catering to the Latin American market, has disclosed that nearly 60% of Chilean centennials (young adults born in the 21st century) are actively using digital payments and have knowledge about cryptocurrencies.
According to a recent report titled “Payments in Latin America in 2025: From Inclusion to Sophistication, the Evolving Payments Ecosystem”, it was discovered that approximately one third of Chile’s Gen Z population relies solely on digital or cryptocurrency for their financial transactions.
Even though Chile does not yet have regulations for cryptocurrencies like some surrounding nations, such as El Salvador and Brazil, this practice or trend continues unabated.
Kushli stated:
As an analyst, I’ve been observing the financial landscape in Chile, where the real-time payment system (RTP) was established back in 2008. Despite this, debit, credit, and prepaid cards have remained the preferred methods of payment for households, making up approximately 66% of spending. As RTPs continue to grow across Latin America, there’s a noticeable trend towards less cash usage and a shift towards more digital and instant transactions.
1) It’s clear that Chileans have a significant interest in cryptocurrency; data shows that by 2024, over $105 billion worth of trades were made by Chilean users. This is higher than the trading volumes seen in Colombia and Argentina. On average, Chilean investors put more than half their monthly earnings into crypto investments.
Kushki concluded that current real-time payment systems using traditional currencies may not be the ultimate structure for the local economy’s settlement system, but rather the foundation for a more open, competitive, and agile financial environment.
In January, a group of Chilean lawmakers convened to create the first bitcoin bench in Congress and planned the establishment of a national bitcoin reserve. Nonetheless, the central bank of Chile has rejected this idea, refusing to include BTC as a reserve asset due to its high volatility.
Read more: Chile Quiere Bitcoin: Legislators Rally Around Strategic Bitcoin Reserve Proposal
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2025-04-06 14:01