In a bid to sway Latino voters and consumers, Coinbase is launching a $2 million ad campaign promoting cryptocurrency as a cost-effective way to send money overseas. The campaign, which features a young man sending financial aid to his grandmother in Mexico, highlights the benefits of using USD Coin on the Coinbase Wallet app, which incurs no fees compared to traditional money transfers.

Coinbase is targeting Latino viewers during the Copa America soccer tournament on Univision, with a focus on California, Texas, and Washington D.C. The campaign is part of the crypto industry's broader effort to influence politics and get supportive politicians in power.

According to a 2022 Mastercard survey, Latin American consumers are driving demand for crypto and digital payment solutions, with 51% having already made a transaction with crypto. Coinbase's campaign aims to tap into this growing interest and position cryptocurrency as a solution to the financial barriers faced by communities of color.

The ad blitz is part of Coinbase's larger advocacy efforts, which include the Stand With Crypto organization, launched last year to represent cryptocurrency owners. With over 1 million members, the organization is seeking to wield its voting influence in the upcoming US elections.

The crypto industry has already spent tens of millions this year on US elections, targeting races and donating to pro-crypto PACs. Coinbase's donation joins similar efforts by other crypto players like Ripple and Andreessen Horowitz. The outcome of the 2024 US presidential election may hinge on the candidates' positions on cryptocurrency, with billionaire Mark Cuban warning that Joe Biden's stance could cost him the White House. In response, the crypto industry is backing Donald Trump with substantial donations, including a $2 million Bitcoin donation from the Winklevoss twins.