🌎 Solana APEX: a turning point for crypto in Latam

Ab’s key insights from Solana APEX in Mexico City

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Frontera EC & Joker
February 14, 2025

đź‘‹ Hi, welcome to Frontera, the newsletter dedicated to showcasing the reality of crypto in Latam. Join industry leaders from The Ethereum Foundation, The Solana Foundation, Binance, Crypto.com, dYdX and others to understand why Latin America has become one of the most dynamic and promising markets in the crypto world and how you can address this market.

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If you want to build products, invest, or grow in LATAM, this is your place. 

You can listen to the full episode here.

This edition is presented by Bando

⚡ Bando now supports both On Ramps and Off Ramps for USDC on Solana, making it easier than ever to move between crypto and Mexican Pesos.

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Easily integrate our fully customizable widget in minutes to enable your dApp, Wallet, or AI Agent to offer users the ability to spend tokens on gaming, retail, travel and more.

Ready to bring this game-changing solution to your platform? 

🇲🇽 Solana APEX recap

Solana APEX 2025 in Mexico City highlighted the pivotal role Solana is playing in LATAM’s blockchain revolution. 

The event showcased Solana’s growing influence in the region, with a clear focus on delivering real solutions to real problems, from enhancing financial services to enabling efficient decentralized solutions across key industries. Leaders, builders, and innovators came together at Solana APEX, discussing how to develop infrastructure that could reshape the way Latin America engages with technology.

In this edition of Frontera, we’ll dive into the event through the eyes of Ab, founder of Bando and Espacio Cripto, as he shares his perspective, key takeaways, and his vision for Solana’s future in LATAM.

🤝 Building connections: key conversations

At Solana APEX, I was fortunate enough to reconnect with long-time friends and influential figures I've been working alongside for years. 

One of the most exciting parts of the event was seeing Raj Parekh, the founder and CEO of Portal. I first met Raj in 2022 while we were exploring the idea of a Web3 wallet at Bitso. Fast forward to today, and now Bando is leveraging Portal’s technology to enhance our offerings. Raj is a true builder, and what really stands out most is his genuine desire to support others in the space. 

I also had the chance to catch up with Lucas Posada, CEO of Takenos. Our friendship began when I reached out to Lucas for feedback on a potential VC investment in Bando, which later led to us recording an episode of Espacio Cripto together.

Another valuable conversation was with David Taylor from Etherfuse. We’ve been in touch for months, and this event was the perfect setting to deepen our relationship and explore synergies.

These were the kinds of meaningful connections that make events like APEX so valuable.

đź’ˇ Memorable moments

There were two moments that truly caught my attention.

The first happened when I was walking through the venue, and Raj called me over to sit down. He said, “Come sit, man, you’ll enjoy this discussion.” As we sat and started talking about the flow of funds from cash to crypto in Mexico, the conversation quickly evolved into a deep discussion with Lucas, Sheraz (GM Payments & Commerce at Solana Foundation), Josh Fried (BD & Partnerships @ Solana Foundation), and more.

We all shared valuable insights on how to scale this process and increase its efficiency. It was a dynamic and invigorating conversation, and I’m excited to continue it with follow-up meetings.

The second moment was when I spoke with Ilan Gitter, Lead Engineer at the Solana Foundation. I shared my experience building in crypto, and we discussed the cultural differences between Solana and other networks.

I'll never forget what Ilan said, 

"In Solana, we want to f***ing win.”

It perfectly encapsulated the cultural alignment I feel with the project. The focus on both personal and collective success really stood out to me and reinforced that Solana is more than just a blockchain—it’s a movement driven by ambition and a strong sense of community.

🏆 My takeaways from the event

From the moment Solana APEX kicked off, it was clear to me that this was the best crypto event I’ve attended since EthMexico 2022. 

The quality of the event was incredible, perfectly organized with insightful talks and engaging conversations. There was an energy in the air that only a community like Solana could foster.

What stood out most was how everyone, from the speakers to the attendees, was focused not only on technological advancements but also on solving real-world problems. This wasn’t just a technical event, it was about people coming together to create change.

The event really demonstrated how blockchain technology is moving from theory to practical use cases. Everyone was on the same page, sharing the vision of a decentralized future where LATAM can thrive. 

It was inspiring, and I’m excited to continue pushing forward with my work at Bando and Espacio Cripto to bring this vision to life.

🤔 What’s next after APEX? 

After attending Solana APEX, it became clear that we need to double down on Solana at Bando. 

We’ve been working nonstop since the event, and I’m excited to share that we’ve officially launched the option for users to offramp USDC to MXN directly on Solana through Bando. Now, users can easily convert their stablecoins into local currency with minimal fees and seamless transactions.

We’re also planning to add Solana in our Bando Fulfillment Protocol (BFP), leveraging Solana’s robust capabilities. Solana’s infrastructure and ecosystem are exactly what we need to scale Bando, and we are fully committed to being a part of it.

On the Espacio Cripto side, we’re focused on pushing the adoption of Solana in Mexico. 

The event reinforced my belief in Solana’s potential, and I’m eager to see how we can leverage this to bring more developers, entrepreneurs, and everyday users into the ecosystem, expanding the possibilities of what Solana can achieve in LATAM. 

It’s a thrilling time to be involved, and I’m looking forward to what’s ahead.

đź“° Latam Crypto News đź“°

🇧🇷 Brazil

In Brazil, 90% of crypto transactions are tied to stablecoins like USDT and USDC, showing their dominance in the market. The country’s Central Bank is looking into how stablecoins affect payments and financial stability as it prepares to launch the Drex digital currency.

Brazil’s new bill, ”Ley Maria da Penha”, targets domestic violence offenders by allowing authorities to block their crypto assets and bank accounts, ensuring victims receive compensation.

Bee4, a Brazilian company specializing in blockchain solutions, kicks off 2025 with Brazil’s first blockchain IPO, offering tokenized shares of Roda Conveniência. This marks a major milestone for regulated blockchain investments in the region.

🇦🇷 Argentina

Mercado Libre, Bitfarms, and Globant are mirroring the U.S. by adopting Bitcoin for their treasuries, aiming to protect themselves against inflation and to strengthen their financial positions.

🇸🇻 El Salvador

In the past 7 days, El Salvador has added 21 BTC to its reserves, increasing its total holdings to 6,068.18 BTC, worth approximately $601.2M. 

🇪🇨 Ecuador

Ecuador is testing blockchain technology to enhance security for its 2025 elections. Their National Electoral Council is implementing a system where blockchain will ensure transparency and traceability in the voting process, allowing verification via QR codes and digital signatures.

🇧🇴 Bolivia

Bolivia has seen a notable increase in crypto adoption, with businesses in cities like Santa Cruz and La Paz now accepting digital currencies. Over $75M was transacted between July and October 2024, reflecting the growing integration of crypto into the local economy.