Director of Bitso states that the volume of remittances with crypto currencies from the United States to Mexico has grown

Daniel Vogel, CEO of Bitso, highlighted the growth of remittances in crypt coins sent from the United States to Mexico

From Bitso they have noticed that the volume of remittances processed with crypto currencies from the United States to Mexico is growing. This was stated by Daniel Vogel, Bitso’s general manager, to Cointelegraph en Español, through a statement shared by the company, where reference is made to other experts and the growth in the adoption of cryptomoney.

„To continue to foster this growth and bring the various advantages that crypto currencies offer us, we are paying special attention to regulatory advances and also to promoting real cases of use that positively impact people’s lives, and we are achieving this, as the volume of remittances with crypto currencies from the United States to Mexico that we process is growing, and we hope to communicate more of these actions soon,“ said Daniel Vogel.

In the case of Mexico, Bitso is a long-standing crypto-currency platform that was founded in 2014. They have been one of the promoters of the Fintech law in this country and also one of the first in Latin America to regulate their operations with crypto coins in Europe.

Progress and growth

This year, 2020, marks the 12th anniversary of the publication of the white paper signed by Satoshi Nakamoto, in which he describes how to create a 100% digital financial instrument and operate it with technology called blockchain. As the Crypto Engine Review industry has grown, so has the interest in it, which has given rise to various studies and reports showing the progress of this growth.

The Center for Alternative Finance at the University of Cambridge has published the third Global Cryptoasset Benchmarking Study. This is a survey that addresses the relationship of society with crypto-currencies based on the consultation of 280 companies in the crypto industry, distributed in different sectors (exchange, payment, custody and mining) and by 59 countries.

As this is the third edition of the survey, as the second was published in 2018, it is possible to have an analysis that enables the observation of the evolution of the cryptosystem and its actors. Thanks to this, it was possible to measure the accelerated growth of cryptomoney users around the world, from 35 million to 101 million.

„Crypto currency is important as an innovation and as a potential alternative for some aspects of the financial system. We can no longer say that it remains on the sidelines,“ said Linda Lacewell, superintendent of the New York City Department of Financial Services for the Industry Report Finance 2020 presented recently by Talkwalker.

In addition, in the report, Talkwalker highlighted that by realising the growing need for and benefits of decentralised finance, key policy makers are leading efforts to further regulate the sector and to make way for financial innovation at various levels.

Returning to the Cambridge University study, this growth has also been due to the boom in stable stablecoins or crypto-currencies; between crypto-currency exchange platforms alone, the number of transactions offering at least one stable currency (stablecoin) has risen from 11% to almost half (48%) in just two years.

In June 2020 the value of transactions using stable currencies exceeded those of Bitcoin for the first time. The authors highlighted how parity with a reference currency has become a major attraction for investors, even for those who seemed more alienated from this ecosystem.

One of the fastest growing stablecoins in Mexico has been the DAI, a cryptomoney that keeps its value close to 1 USD.