The growing interest in cryptocurrency exchange in Mexico

‘Exchange’. The Bitrus platform began operations in October 2019 and almost three months later it already carries out transactions for around 80 million pesos.

The use of cryptocurrencies in Mexico has extended to restaurants, bookstores, and online shopping, mainly. The country, in addition to Brazil, is one of the nations where these assets are most used and where fintechs are identifying business opportunities.

This is the case of Bitrus, a Mexican platform that opted to create a cryptocurrency exchange house and an electronic wallet ( wallet ) that operate alongside.

According to Alberto Djemal, director of Bitrus, the idea of ​​creating a fintech with these characteristics emerged more than two years ago, after analyzing the market and the entire ecosystem that surrounds it, both in terms of virtual assets and inclusion financial

“There are many emerging technologies today that I consider are interesting and blockchain is one of them, if not the most important and clear, digital currencies are the first real application of the blockchain, so I also see them as a topic of interest and even in the coming years, international transfers and in the world of currency exchange can be expedited and this is the first real use case that he gave us, ”he explained.

For Djemal, cryptocurrencies are gaining ground primarily in the area of ​​personal finance.

With Bitrus Wallet you can open an account quickly and easily, obtain a card and be able to make purchases both online and in establishments with the assurance that cryptocurrencies are safe. While the platform allows you to buy, store and sell digital currencies in a simple way.

The wallet is awaiting authorization from the Law to Regulate Financial Technology Institutions, better known as Fintech Law.

Although cryptocurrencies in Mexico are not under regulation, several countries have allowed the implementation of exchanges, exchange houses or digital platforms within which it is possible to exchange digital currencies for fiat money or other digital assets.

“The Mexican market is one of the most important and growing in Latin America regarding the purchase of cryptocurrencies,” said Djemal.

The Bitrus exchange began operations in October 2019 and maintains more than 23 registered users on the platform, with movements of around 80 million pesos.

Djemal considered that fintech is characterized by offering traditional banking services since it can be used to make online payments to various shops and services, as well as to receive remittances from abroad with low rates and speed.

With these products, he said, the company helps increase the country’s financial inclusion.

KEYS

INCREASE

In addition to Brazil, Mexico is one of the nations where these assets are most used.

REGULATION

The wallet of Fintech is awaiting approval of the Law to Regulate Financial Institutions Technology, better known as Law Fintech.

ADVANCE

Virtual money is gaining ground primarily in the area of ​​personal finance.

Source: milenio

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