House exchange in Mexico

MEXICO AND HAS ITS FIRST HOUSE OF EXCHANGE OF BITCOINS WITH PHYSICAL HEADQUARTERS

The FinTech development takes on new dimensions in Latin America, increasing its inclusion in society thanks to government momentum, as is the case of Argentina, Colombia and Mexico. In the latter there is also a struggle for the adoption of cryptononedas, whose regulation continues to be excluded from innovation, where new business models with these tools leave the screens to occupy the physical space.

In the Colonia Juárez neighborhood, located in the center of Mexico City, walkers can find the Bitlemoon SA business, better known as Bitlem, the first exchange house for physical cemeteries in the country. The business recently opened, offering the possibility of changing Mexican pesos by bitcoins and 10 other crypto-currencies, just two blocks from the Mexico Stock Exchange.

The presence of the business faces the regulatory upheaval that has been agitating the community of Mexican users and developers for some time, who are still embracing the legal status of the tools that have been taking more and more spaces in their daily lives. This new precedent in entrepreneurship also seeks to extend the general knowledge about cryptones, inviting curious people to cross the sidewalk and ask what they do not dare in the virtual world.

"Launching the first Bitcoin Exchange with a physical branch in Mexico represents a challenge but also a great opportunity to get closer to all this population that still distrusts or does not understand Bitcoin," explains Jorge Chávez Martinez, CEO of Bitlemoon, in an exclusive interview for CryptoNews.

BETWEEN TRUST

Martinez is clear: to attract customers you must build trust, especially talking about financial tools, however popular they may be. With the aim of leading the foreign exchange business with digital assets in Mexico, the branch on Copenhage 6, two blocks from the Reforma 222 financial center, stands as another business, attracting the eyes of the curious and inviting go to find out what it is to change the national currency for a virtual one.

"The main demands of most new people in Bitcoin are security, trust and customer support. (...) Our clients can come or call to solve their doubts and problems; and above all, buy and sell with the confidence that they will always have a human face that will attend to them ", explains the entrepreneur.

The standardization of solutions such as the exchange house mixed among the traditional businesses is a sample of the adaptability that gives name to Mexico in the FinTech landscape. Although the cryptomonedas are not yet widely known - despite having a robust market in Latin America - proximity is a factor that entrepreneurs were careful not to overlook, also extending traditional payment services for the purchase of digital assets, with bank transfers and cash payments.

According to its creators, the exchange house accepts payments at its physical establishment from 100 Mexican pesos, enabling the purchase of bitcoins with a 5% commission, according to users.

Likewise, the company includes in its plans the extension of its services in the web, enabling a trading platform that allows the purchase and sale of bitcoins that will go a step further, since they have made possible this process by enabling deposits for the purchase of bitcoins in 20 thousand businesses distributed throughout Mexico.

THE GRAY AREA OF MEXICO

Much has been discussed about the possible turn of Mexico with the next FinTech regulation, which has generated startles with the possibility of including the criptomonedas in the regulation for companies dedicated to providing financial solutions with technology. So far, it is expected that the controls of the Central Bank on cryptoactives will be intensified, making available those allowed for trade in the country, without clarifying the role of Bitcoin.

According to Martinez, Bitcoin is recognized as a method of payment and money transmitter (remittances) in the country, so the operations of the exchange house found no major legal drawbacks. "We are regulated and limited like any business of this nature against laws and care that must be taken to avoid situations such as money laundering," he said.

Likewise, like many entrepreneurs, Bitlem remains on the lookout for future regulations, with the confidence of being ahead of measures that will encourage the appearance of physical businesses with Bitcoin.

Meanwhile, the pioneer exchange house in the capital of one of Latin America's FinTech centers plays an interesting role, setting precedents in using the possibilities within the legal context. "We are not only governed by the little regulation that is currently focused on Bitcoin, but we are self-regulating and we have decided to apply care and processes similar to those that would be carried out by an Exchange Center before the law," concluded the CEO, while waiting for a decision that could change the future of adoption with criptomonedas in Mexico, with possible repercussions among its Latin American neighbors.

#ethereum #cryptocurrency #money #story #bitcoin #news #blockchain #aceh