We investigated Internet eXchange Points (IXPs) deployed across Latin America. We discovered that many Latin American states have been actively involved in the development of their IXPs. We further found a correlation between the success of a national IXP and the absence of local monopolistic ASes that concentrate the country's IPv4 address space. In particular, three IXPs have been able to gain local traction: IX.br-SP, CABASE-BUE and PIT Chile- SCL. We further compared these larger IXPs with others outside Latin America. We found that, in developing regions, IXPs have had a similar growth in the last years and are mainly populated by regional ASes. The latter point clearly contrasts with more internationally re-known European IXPs whose members span multiple regions.