Latam Insights — Javier Milei’s Victory Divides Argentina; Bitso Launches Cross-Border Institutional Payment Service
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Javier Milei’s victory in Argentina causes a devaluation maelstrom, and Bitso launches a cross-border institutional payments service. Javier Milei’s Victory in Argentina Sparks Devaluation and Inflation Maelstrom The victory of Javier Milei in the Argentine preliminary elections, qualified as a far-right outsider by mainstream media, has sparked a series of consequences in the country’s economy that has caused citizens to take refuge in cryptocurrency and stablecoins. Milei’s win, which polls did not foresee, has intensified the discussion of a possible dollarization of the country, which has been mentioned as key in his government plans. Milei’s dollarization plan, which would contemplate the total conversion of deposits of public and private institutions to U.S. dollars, would also include the closure of the Central Bank of Argentina. These ide