#176: What's ACTUALLY Driving Stablecoin Adoption in Latam? With Justin Norman
Brazil Crypto Report
Network effects keep parallel economies strong
Justin explains how network effects and tax concerns lock people into informal dollar systems and cuevas.
In this episode, host Aaron Stanley speaks with Justin Norman, founder of The Flip, a content creator and filmmaker who documents technology adoption in emerging markets. Justin shares insights from his recent Latin American research trip exploring stablecoin adoption, which resulted in a YouTube documentary series examining markets like Argentina and Bolivia.
The conversation delves into the disconnect between Argentina's impressive stablecoin transaction volumes and the lack of visible retail adoption, revealing that stablecoins primarily serve as store-of-value tools and facilitate cross-border trade rather than everyday spending.
Justin emphasizes the importance of understanding the macro conditions driving adoption, including dollar shortages, parallel exchange markets, and currency devaluation, rather than focusing solely on technology hype.
He also draws compelling parallels between Latin American and African markets, noting how similar economic pressures create comparable crypto adoption patterns, while highlighting Latin America's superior payment infrastructure that enables more seamless on-ramps and off-ramps for stablecoin users.
You can connect with Justin on Linkedin
Be sure to check out Justin's incredible YouTube documentary on stablecoins in Argentina here
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