The Rollup Why 25% of Argentina Now Holds Crypto with Diego Fernandez
Nov 12, 2025
Diego Fernandez, co-founder of Sovra and a Buenos Aires crypto entrepreneur, discusses how 25% of Argentinians have turned to crypto as a survival tool amidst 70 years of inflation. He explains why stablecoins outperform traditional bank accounts, highlighting their role in everyday transactions. Diego also shares insights on Mexico's decentralized ID rollout and critiques private blockchains, advocating for Ethereum's security. The conversation dives into the evolving landscape of crypto payments and the challenges of maintaining privacy against centralized control.
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Stablecoins As Economic Survival
- Argentina's decades-long inflation shaped a cultural habit of preserving value outside the peso.
- Stablecoins became a practical survival tool, not speculation, for everyday Argentinians.
From Stablecoins To Crypto Diversification
- Early adopters used stablecoins first, then migrated some holdings to BTC and ETH over time.
- About 20–25% of Argentinians now hold crypto and integrate it into daily life.
Florida Avenue 'Arbolitos' Exchange Scene
- Diego described the street vendors on Florida Avenue as 'arbolitos' shouting cambio to exchange currency.
- He uses the example to show how cash and informal exchange remain visible in daily Argentine commerce.