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Crypto

Venezuela crypto activity doubles in a year, fastest growth in Latin America

Venezuela\'s cryptocurrency activity more than doubled in a year, posting the fastest growth among major Latin American markets as dollar-pegged stablecoins are used to store value and for remittances and payments. Activity reached $39.1 billion in the year to June 30, up 107.2 percent. Brazil had the region’s largest market at $252.5 billion. Chainalysis data also showed a sharp rise in outflows after political upheaval in January.

Crypto

Brazil tops global crypto adoption index, South Korea ranks fifth

Brazil ranked No. 1 in a revamped cryptocurrency adoption index, with the United States second and South Korea fifth, according to a report citing Chainalysis. The index combines four factors including service fund flows, domestic peer-to-peer activity, cross-border fund flows and on-chain holdings. Latin America stood out as regional crypto activity rose to $593.8 billion, growing 9.8 percent even as the global crypto economy contracted 1.6 percent.

Finance

Kakao moves to sway retail shareholders as rationale for spin-off put to test

Kakao will directly brief retail shareholders to address concerns over its planned corporate spin-off. The move follows a share price slide since the plan was announced and growing opposition from individual investors and the labour union ahead of an extraordinary shareholders meeting on Dec. 17. Kakao will hold an online meeting on Sept. 16 to explain the outline, background and expected effects of the spin-off and take questions.