According to a recent report by blockchain analysis company Chainalysis, Latin America is more inclined towards centralized exchanges (CEX) rather than decentralized exchanges (DEX) compared to other regions in the world. The report highlights that Latin America has the world's seventh largest cryptocurrency economy, lagging behind the Middle East and North America (MENA), East Asia, and Eastern Europe. However, it notes that cryptocurrency users in Latin America strongly support the use of CEX. Additionally, in some countries in the region, cryptocurrency activity divided by platform type is significantly biased towards CEX compared to the global average. However, in Venezuela, the preference for CEX is significantly higher, reaching 92.5%, while the preference for DEX is much lower at 5.6%.
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Latin America favors CEX over DEX
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