Mastercard's latest white paper highlights the growth of remittances in Latin America, with rates outpacing the global average. The increasing penetration of mobile phones and internet is expected to drive a shift from cash to digital options. Currently, Latin America receives 43% of its remittances digitally, with digital remittances predicted to be worth $20 billion by 2026. Companies like MoneyGram, Stellar, and SBI Remit are utilizing cryptocurrencies like USDC and Ripple for remittance transactions. However, trust, regulatory, and technological adoption issues still pose challenges for crypto players in the region.