Amero-isatek has announced that it will be opening eight physical crypto exchanges in Mexico. The first exchange is set to be opened in Nuevo León, Monterrey, on the 21st of June.
Amero Exchanges Users To Use The Amero Token In Trading
The firm is estimating that it will have a customer base of up to 800,000 users within Central Mexico. The exchange’s users will be trading in Amero, the firm’s native digital token which will be launching on the same day as the opening of the first exchange. Amero-Isatek had earlier been in the headlines for taking part in what it termed the biggest real estate exchange made in Crypto, in the world. This event saw Amero-Isatek purchase 1400 hectares of land in Baja California using their native digital currency Amero.
Alfonso Jiménez, Amero-Isatek’s chief executive has said that the firm already has an established exchange in Monterrey named the GTM but clarified that it does not operate as a Crypto exchange. He added that with there being no physical Crypto exchanges in Mexico, the firm is looking to establish itself there.
Amero will be establishing physical Crypto exchanges in seven other locations in addition to Monterrey. These locations are Quintana Roo, Queretáro, South Lower California, Sinaloa, Yucatán and Jalisco.
Amero To Acquire Two Estonia-Based, Licensed Crypto Exchanges
To be able to establish the physical exchanges, Amero must have found a way of going around the country’s nascent fintech laws. These laws dictate that new establishments will be governed by the sand box regulation scheme in order to carry out activities in physical locations. In an interview, the CEO said that the company is hopeful that it will be found to be compliant to international and the Bank of Mexico standards.
The company is also looking to acquire Invest Global and Global XVC, Estonia-based Crypto exchanges which are licensed. These two Crypto exchanges will execute financial operations for the company. Jiménez has said that the Fintech laws in Mexico, which are dictated by the Bank of Mexico, notwithstanding, the company will still be able to operate on a global scale with an Estonia financial base.
Amero categorizes itself as being a fintech enterprise operating with an ecological bend. However, according to the chief executive, this categorization is subject to change depending on the laws in Mexico. Jiménez has stated that in the event that the fintech laws in Mexico are friendly, the firm will be registered as a fintech enterprise which also carries out financial operations.
Mexico Becoming More Attractive To Crypto-Based Businesses
When it comes to digital currencies, Mexico’s fintech laws have not been particularly open in the recent past. Despite this, Blockchain technology seems to be leading a way for innovative financial technologies in the nation. This observation is apparent from the evolving Crypto regulations sanctioned by the government.
As a result, more Crypto based firms are registering their interest in the Mexico jurisdiction. Last month Ripio unveiled that it will be launching a new Crypto exchange platform in Mexico, Brazil and Argentina.