One under the radar cryptocurrency-powered payment app that’s been gaining traction across Latin America is Reserve. The platform acts as a convenient way for people to convert their local currencies, which may be undergoing high inflation levels, to the United States Dollar via the Reserve stablecoin (RSV). The network also features the Reserve Rights token (RSR), which is used for protocol governance.
Since its launch in March 2021, the platform says it has seen 367,000 total signups. Meanwhile the number of weekly active users has surpassed 100,000, with most located in Argentina, Venezuela, and Colombia. In the past 30 days, the app has handled approximately 547,000 transactions. In addition, over 8,000 businesses, predominantly based in Venezuela, now accept Reserve as a payment method for goods and services.