One under-the-radar cryptocurrency-powered payment app that has 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 U.S. dollars via the Reserve (RSV) stablecoin. The network also features the Reserve Rights (Rtoken (RSR), which is used for protocol governance.
Since its launch in March, the platform says it has seen 367,000 total sign-ups. Meanwhile, it 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.