Coinbase to Allow Remittance Receivers in Mexico to Cash Out in Local Currency
Coinbase, a leading U.S.-based exchange, has announced it will now allow remittance receivers in Mexico to cash out the funds received through its service in local currency. This marks the first foray of the company into the Mexican remittance business, allowing customers to cash out in more than 37,000 convenience stores and other locations in the country. Coinbase Allows Mexicans to Cash Out Crypto Remittances in Pesos Popular cryptocurrency exchange Coinbase announced this week it was making its first foray into remittances in Mexico. While the exchange already allowed....
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Companies and services using Bitcoin are poised to rise to the top of the US to Mexico remittance industry, Mexico's second largest industry. Many experts stated in an interview with CoinTelegraph that the market has huge potential to make cross-border money transfers simpler and cheaper which will save millions of dollars for Mexican people and the economy. The remittance corridor between the USA and Mexico is currently the biggest and most competitive in the world attracting more and more remittance providers every year. Remittances sent to Mexico from the United States by emigrants....
Cinco de Mayo 1862 - Mexico's army came to an unlikely victory over the French at the Battle of Pueblo. Today, Mexico's army of Bitcoiners are fighting to revolutionize the financial system. Mexico is a key market for Bitcoin because Mexico is the fourth largest destination for remittance payments, totaling about 22 billion USD in 2013 according to the World Bank. Currently remittance payments are packed with fees in all parts of the process; using Bitcoin can drastically reduce these fees. Remittance payment fees from the US to Mexico are some of the lowest in the world. Fees of payments....
Mexico has a burgeoning crypto remittance market that has immense potential. Mexico is the second-largest recipient of remittances in the world, according to 2021 World Bank statistics. Remittances to the nation jumped to a record $5.3 billion in July, which is a 16.5% increase year-over-year compared to the same period last year. The steady growth presents myriad opportunities for fintech companies.Not surprisingly, droves of crypto companies are setting up shop in Mexico to claim a share of the burgeoning remittance market.Over the past year alone, about half a dozen crypto giants,....
Bitwage has been making a name for itself through its payroll services. Recipients can choose the currency they want to be paid in, whether that is a local currency or Bitcoin. Mexico is a fascinating country when it comes to the remittance market. There is a lot of money flowing from the US to Mexico on a monthly basis. This has caught the attention of Bitcoin company Bitwage, as they expand their service to Mexico. If it is up to Donald Trump, he will ensure no remittance will be possible between the US and Mexico shortly. While those plans may be vastly overstated, Bitcoin companies are....
Puebla, Mexico-based digital currency exchange Bitso has launched a Ripple gateway for the peso to allow remittance capabilities to its customers. Bitso's establishment as an entry point into Ripple's peer-to-peer network means that its customers will be able to more easily transfer pesos, US dollars and BTC across borders. The company's co-founder and CTO Ben Peters said: "We are committed to developing the infrastructure required to revolutionize the incumbent remittance ecosystem in Mexico, harnessing the transformative innovations of cryptocurrency." Remittances. Since Mexico is the....