Update: Hubble Protocol in Latin America

Hubble attended multiple conferences in Latin America to get our finger on the pulse of where DeFi is headed.

Decentralized finance (DeFi) is a nascent global financial system that's building momentum from multiple directions. It was only two years ago that around 95% of DeFi transactions were executed on just one blockchain, and today a multi-chain DeFi landscape serves users worldwide.

It's a big world out there, and Hubble Protocol's mission to explore the universe of DeFi recently brought several core contributors to Colombia for several weeks of blockchain conferences. The Solana-native builders rubbed shoulders with other developers from Cosmos and Ethereum, checking the pulse of the DeFi communities outside our own echo chamber.

Safe to say, the Hubble folks learned a lot from the experience. Around the same time, the Latin American crypto market began learning a lot about Hubble and Solana DeFi as the network and a few projects began receiving increased exposure during the last month, and we'll round up the media here as well.

So Many Conferences in South America

Three back-to-back major blockchain conferences brought several of Hubble's core contributors to Colombia for the better part of a month. The first conference to kick off was Cosmoverse, held in Medellín.

Impression:  Lots of focus on DeFi!

Next up, the Solana Hacker House world tour landed in Bogotá. The constant stream of Solana Hacker House events leading up to Breakpoint has been staggering, and the Colombia HH was another great round.

Impression: Less DeFi than other Hacker Houses we've attended. Solana builders are definitely a young and hungry bunch.

The last stop was the Ethereum Foundation's Devcon. This was a massive conference and shows how much the Ethereum community has grown with over half a decade of building!

Impression: A lot of people don't like Solana for reasons they can't explain. Many believe the future will be Layer 2 solutions, but which?

Last but not least, Marius gave a presentation on "Finanzas descentralizadas en Solana" at Crypto Summit del Caribe, a conference held in the Dominican Republic. He delivered a pre-recorded (and translated) presentation about DeFi, Hubble Protocol, and Solana with a Q&A following.

Hubble Protocol and Latin America in the Media

While Hubble's core contributors were touring Colombia, a few media outlets picked up on Hubble Protocol's time in Latin America and wrote about the importance of stablecoin adoption in the region.

Hubble Protocol laser-focused on Latin America, the new stablecoins’ growth base | Invezz
Hubble Protocol, the home of Solana’s premier stablecoin USDH, is laser-focused on Latin America.

Latin America has been one of the biggest adopters of stablecoins in the last year, with retail users hedging against inflation for savings through stablcoins' easy access to US dollar value, and companies have begun using them to conduct business transactions across borders, reducing friction on payments. It's estimated that 51% of consumers in Latin America and the Carribean have used crypto.

Latin America is the new growth base for stablecoins, says Marius Ciubotariu
Hubble Protocol’s co-founder Marius Ciubotariu believes that Latin America will provide the new growth base for stablecoins.

In Brazil, crypto media outlets began covering the growth of DeFi on Solana, and Hubble Protocol earned several mentions. For example, Hubble and Kamino Finance were discussed in this article on a Nansen Q3 2022 report showing Solana finalized more transactions per day than any other blockchain.  

Hubble also made an appearance in Brazilian crypto articles about Web3 trends, how stablecoins and DeFi can be used in capital protection strategies, and also in an introduction to DeFi for users who HODL BTC and ETH. It's great to find such a diverse audience in DeFi, and Hubble looks forward to building products and services for this massive base of users.

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