Mexico accounts for almost 11% of all retail transactions in Latin America. This is reported by El Economista, citing Chainalysis representative Daniel Cartolin.
Latin America’s share of the world cryptocurrency economy stands at 7%, according to Chainalysis. In the last year the region received $24 million and sent $25 million in digital assets to other continents. The greatest activity is observed in the remittance sector, where Mexico leads.
Cartolin says remittance flows between the two countries have long been substantial. Cryptocurrency helps reduce transaction costs and simplify the process of transferring and receiving funds.
‘People don’t need to visit sites like Western Union or Moneygram to conduct a transaction. It can be done on a phone,’ the expert noted.
Earlier, analysts named Mexico as one of the most promising countries for cryptocurrencies. In terms of attractiveness to related digital-asset companies and residents’ loyalty to such assets, it trails only India and Indonesia.
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