By Amero-Isatek, a cryptocurrency exchange firm recently announced that it will be launching its first physical cryptocurrency exchange station in the town of Nuevo León, Monterrey on June 21st. In addition to this, the firm also announced plans to expand to another seven jurisdictions across Mexico.
The firm estimates that it will serve over 800,000 cryptocurrency enthusiasts in Central Mexico. Users of the exchange will trade in Amero, Amero-Isatek’s native asset. The asset will roll out on the same day as the Nuevo León opening.
The crypto firm has been making waves in the crypto community already, as earlier this year it participated in what has been hailed as the world’s biggest cryptocurrency real estate exchange. As a result of this exchange, the company managed to acquire 1,400 hectares in Southern California, which they paid $2.8 million in Amero for.
As per the CEO of Amero-Isatek, Alfonso Jiménez, there already is an exchange in Monterrey known as GTM, but it doesn’t qualify as a crypto service.
Jiménez stated:
“Today, there are no physical exchanges in Mexico, and we are going to open them.”
The launch of these physical crypto exchanges in Mexico bypasses Mexico’s basic fintech laws in the nation. The current regulations state that any new firms can operate in physical locations under a “sandbox” regulatory scheme for new fintech companies.
Jiménez stated in an interview that the firm has hopes that it will indeed comply with the Bank of Mexico (Banxico) and international regulatory guidelines. In addition to opening eight physical exchanges, the company has also acquired two licensed Estonian crypto exchanges, namely, Invest Global and Global XVC, to oversee financial operations.
Jiménez added:
“Whatever it happens with the Fintech Law in Mexico, under Banxico’s dispositions, we’ll be able to operate legally worldwide with a financial base from Estonia.”
Despite the firm describing itself as a Fintech enterprise with an ecological bent, according to Jiménez, this could change depending on whether Mexican laws evolve in the near future.
He stated:
“If the fintech law turns out to be friendly in Mexico as well, we’ll be registered as a fintech with financial operation.”
In the past, fintech laws in Mexico have suffered from with regards to cryptocurrencies. Despite a harsh crypto landscape, blockchain technology has begun to open up new avenues for financial technologies in the nation and companies such as Amero-Isatek and the Mexican government are paying attention.
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