60% of Gen Z in Chile embrace digital payments and crypto

A recent report by Kushki, an Ecuador-based fintech company, reveals that nearly 60% of Chile’s Gen Z population, also known as centennials, utilise digital payment methods and have a strong familiarity with cryptocurrencies.

The findings highlight a growing shift toward digital financial solutions in Latin America, even in countries like Chile that lack a formal cryptocurrency regulatory framework.

The report, titled “Payments in Latin America in 2025: From Inclusion to Sophistication,” indicates that approximately 30% of Chile’s Gen Z exclusively use digital money for transactions.

Despite the dominance of debit, credit, and prepaid cards—accounting for 66% of household spending—real-time payment systems (RTPs) have been steadily reducing cash usage since their introduction in 2008.

Chile has also demonstrated significant interest in cryptocurrency trading.

By 2024, Chilean users had traded over $105 billion in crypto assets, surpassing the trading volumes of neighboring countries like Colombia and Argentina.

On average, Chilean traders reportedly allocate more than 50% of their monthly income to cryptocurrency investments.

Kushki’s analysis suggests that RTPs are merely the foundation for a more dynamic and competitive financial ecosystem.

The company believes that the region is moving toward greater adoption of decentralised finance (DeFi) and blockchain-based solutions.

The report also notes legislative interest in cryptocurrency within Chile.

In January 2025, lawmakers formed a “Bitcoin bench” in Congress to explore the establishment of a national bitcoin reserve.

However, the Central Bank of Chile rejected this proposal due to Bitcoin’s (CRYPTO:BTC) high volatility, reflecting ongoing debates about integrating cryptocurrencies into national financial systems.