Whether you prefer the moniker Latinx, Latine, or Latino, this comunidad has been integral to the growth of the $1 trillion crypto market. Latino communities lead national adoption of crypto according to several studies. And they are one of the fastest growing demographics in the United States.
This weekend kicks off the federal celebration of the culture in the United States. Each year, September 15 to October 15 marks National Hispanic Heritage Month. It goes without saying that Latino crypto leaders are part of that legacy.
There are several organizations empowering this vibrant multicultural group. Blockchain Latinx, Web3 Familia, and CryptoConexion are among those leading the charge. I asked their founders for thoughts on what this commemoration signifies and the intersectionality with crypto and I received compelling insights.
Latino Leaders Amplify Culture 365 Days A Year
Elena Giralt launched Blockchain Latinx in 2018, the first entity to organize in the United States. During the annual Congressional Hispanic Caucus Institute Leadership Conference three years ago, she made a case for blockchain’s untapped potential. In a recent interview, she told me, “My Hispanic heritage is something I try to celebrate every day, 365 days a year. There are so many different facets, identities, experiences that make up the Hispanic community, so I see Hispanic Heritage month as an opportunity to learn about Latino cultures other than my own.”
Web3 Familia Co-founder Christian Narvaez is speaking at this year’s CHCI Leadership Conference on September 20 about how digital assets can help transform the future of global remittances. He shared with me, “Celebrating and acknowledging Latine leaders in America during Hispanic Heritage Month is important to me because it helps normalize the journey to greatness, amplifies the contributions our community has across many sectors, and allows our community to see what they can be. We must work together to not only celebrate, support, and amplify our community during Hispanic Heritage Month, but do so 24/7, 365 days a year.”
Monica Talan, Founder of CryptoConexion, previously oversaw communications at Univision. She will be speaking about crypto’s impact in Latin America at the Money20/20 conference in Vegas next month. She remarked, “Hispanic Heritage Month is important to me as it celebrates the contributions, culture, and history of the Latino community. It’s a time for reflection and empowerment, providing a platform to share stories and achievements that often go unnoticed.”
Reimagining Together What Money Could Look Like
The three crypto pioneers also provided fascinating perspective on ways blockchain and cryptocurrency is being utilized.
“Latino communities, as well as other diasporas, are leveraging cryptocurrencies in remarkable ways. The obvious examples are cross-border payments and remittances. It’s also inspiring to see how communities are educating and onboarding each other into this ecosystem, reimagining together what money could look like, what monetary and financial systems can do,” Giralt added.
“Many startup founders are using blockchain technology to make workflows and processes more efficient and cost effective across many sectors like remittances, real world asset lending, ecommerce, philanthropy, and other areas. They are putting the tech under the hood so consumers can easily use products and services without needing an intricate grasp of blockchain technology,” said Narvaez.
“Latino communities are showing a notable engagement with the crypto ecosystem. According to recent studies, 24% of cryptocurrency owners in the U.S. identify as Hispanic, a figure that surpasses the 16% representation of all U.S. adults. This higher rate of adoption is primarily driven by the use of cryptocurrencies for payment transactions rather than speculative investments. For instance, Bitso, a crypto exchange founded in Mexico, processed over $3 billion in cross-border payments between the U.S. and Mexico in 2022 alone. In addition to financial transactions, educational initiatives are playing a significant role. Our organization, along with Hola Metaverso and Web3 Familia, are actively educating Latino communities about the benefits and risks associated with cryptocurrency and blockchain technologies. This multi-faceted engagement not only promotes financial inclusion, but also fosters a well-informed community that can capitalize on the full potential of Web3,” Talan explained.
A Robust Multicultural, Multilingual Global Crypto Cadena
Blockchain Latinx was launched five years ago in New York City as a space to learn about the emerging crypto industry, share chisme, and support each other. Since then, the vibrant global cadena (chain) has blossomed into a market force. CryptoConexion, based in Austin, Texas, leads efforts to bolster Latino innovation and drive gender equity. They offer more than 100 free tutorials in Spanish and have collaborated with more than 50 Latin American communities. Web3 Familia initiatives seek to empower founders, developers and community builders. Their virtual and in-person activities span the U.S. and Latin America.
National Hispanic Heritage Month honors the contributions of Latino leaders and the accomplishments of crypto trailblazers like Giralt, Narvaez, and Talan are intertwined in that rich tradition and pride.
