Why crypto remittance companies are flocking to Mexico

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Crypto is helping Mexicans living abroad send money home.

This phenomenon has occurred in previous crises, such as the 2008 financial crisis, which plunged the Mexican economy into turmoil. In times like this, Mexican institutions and investors usually tend to seek refuge in the greenback, which typically has a higher buying power.

Cointelegraph caught up with Structure.fi president and co-founder Bryan Hernandez to discuss the impact of these factors on the Mexican remittance market. His company operates a mobile trading platform that gives investors exposure to traditional and crypto financial markets: Moreover, they are able to serve the unbanked. As things stand, over 50% of Mexicans lack a bank account. This makes crypto remittance solutions convenient for citizens in this demographic, as all that’s needed to receive funds is a crypto wallet address.

“The clear advantage of digital currencies is what is paving the way for their broad-based adoption in the country and the Latin American world as a whole,” he said, adding:

 

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EverestDotOrg $ID Ctrl+F: Everest (1 result) Ctrl+F: Bitso (4 results) The means to Remit to Mexico from USD to Pesos will be faster and cheaper.

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Remittance is one of the best uses of crypto.

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