Brazil and Argentina are present in the recently issued “Chainalysis Global Defi Adoption Index,” which measures how much a country is immersed in decentralized finance markets. These two countries occupy ranks 17 and 16 on a worldwide level. The index takes several factors into consideration and found that in contrast with the current cryptocurrency adoption index, defi is dominated by big investors seeking alpha opportunities in new markets.

Brazil and Argentina Top Latam Defi Adopters

Brazil and Argentina, two of the most developed economies in Latam, are present in Chainalysis’ defi adoption index. The new report seeks to quantify and locate the countries where decentralized finance (defi) technologies have penetrated the most. The two nations occupy 17th (Brazil) and 16th (Argentina) places in the top 20 countries with the most defi adoption. Chainalysis’s blog post explains that this index takes three factors into consideration, ranking 154 countries in each of these categories.

These three factors are on-chain cryptocurrency value received by defi platforms weighted by PPP (purchasing power parity) per capita, the total retail value received by defi platforms, and individual deposits to defi platforms. The first country in the index is the U.S., followed by Vietnam, Thailand, China, and the U.K.