Over 285,000 Peruvians join Lemon app in 2024 as LATAM cryptocurrency boom accelerates

(Originally posted on : Invezz )

In a boost for Latin America’s crypto sector, over 285,000 Peruvians have adopted the Lemon app since its launch in August 2024.

This rapid growth coincides with Bitcoin’s surge to $100,000 by December 2024 and the Central Bank of Peru’s initiatives to improve financial interoperability.

Lemon’s popularity stems from its user-friendly features, allowing seamless currency swaps between soles and cryptocurrencies.

Users also earn Bitcoin rewards for daily purchases, such as groceries or coffee, making cryptocurrency accessible for everyday transactions.

The app’s QR code payments and phone-based transfers simplify the process for users unfamiliar with crypto, driving its widespread appeal.

During its launch week, Lemon became the top finance app in Peru, a trend that continued throughout 2024.

The app processed over $90 million in soles transactions within the year, highlighting its growing role in the local financial landscape.

December alone saw record-breaking transaction volumes and a surge of new users entering the Bitcoin ecosystem.

Federico Biskupovich, Lemon’s operations head, attributes this growth partly to speculation that Bitcoin might be added to US strategic reserves in 2025, boosting its image as a secure digital asset.

This aligns with the global rise in Bitcoin adoption, encouraging more Peruvians to explore cryptocurrency as a viable financial option.

Lemon’s success reflects a larger shift in Peru’s financial habits, as digital currencies gain traction.

Supported by the Central Bank and Lemon’s market strategies, Peru is emerging as a leader in integrating crypto into everyday life.

As this momentum continues into 2025, Peru could serve as a model for other nations looking to embrace digital currencies, fostering innovation and expanding financial inclusion across emerging markets.

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