Publicly traded U.S. crypto exchange Coinbase launched a new $2 million ad campaign aimed at Latino voters and consumers.
according to a 20 June Reuters reportThis campaign is part of the broader crypto industry’s efforts to gain support from politicians that are favorable to their cause. The aim of the ad campaign is to garner a strong endorsement for the crypto industry. cryptocurrency It is an efficient and cost-effective means of sending money abroad.
It shows a young man using Coinbase’s USD Coin to send financial aid to his grandmother in Mexico, highlighting the fact that there are no fees when using the Coinbase Wallet app, compared to the 6.18% fee typically charged by traditional money transfer services.
The report follows former House Speaker Paul Ryan’s recent urging of lawmakers to consider creating an appropriate crypto regulatory framework. He highlighted his belief that Stable currencies could result in a stronger dollar,
A solid, predictable regulatory framework for stablecoins has bipartisan support in Congress and would help dramatically increase the use of the digital dollar at a critical time. In an election year, given all the ugly politics to come, we certainly need a win.
Highly targeted advertising
To maximize its reach among Latino audiences, Coinbase will advertise on Univision during the Copa America soccer tournament. The campaign focuses on California, Texas, and Washington DC. Former Los Angeles Mayor Antonio Villaraigosa endorsed the campaign:
Our traditional financial system isn’t working for Black communities, who face disproportionate barriers to wealth creation at every turn.
2022 Mastercard survey revealed Latin American consumers are increasingly demanding services connected to cryptocurrencies and digital payments, with 51% of respondents having already made a transaction using crypto. The survey also found that 86% of Latino consumers will use at least one emerging payment method in 2022, reflecting the growing trend of adopting new financial technologies in the region.
Coinbase’s ad campaign is one of several advocacy initiatives undertaken by the company and the broader crypto industry. In August 2022, Coinbase launched Stand With Crypto, a tax-exempt social welfare group representing cryptocurrency owners and voters. The organization has rapidly grown its popularity The number of subscribers exceeded 1 millionUnderscoring the significant voting influence the crypto community has.
The crypto industry has also spent hundreds of millions of dollars on US elections this year, targeting specific races and donating to pro-crypto PACs. $78 million donated to FairShake Investments made by industry firms including Coinbase are one example of this.
coinbase-targets-latino-voters-with-2-million-ad-campaign
