Mexico’s peso continues to outperform US’s dollar
The Mexican peso is turning heads and wallets alike as it climbs the ladder of global currencies, leaving the US dollar grappling with its depreciating charm. Recent trends showcase the peso’s rapid appreciation against a backdrop where the US dollar has been losing ground, marking a shift in economic dynamics that could redefine financial power […]
Mexico is making sure it joins BRICS this year – But is it for the right reasons?
Last week, Mzuvukile Geoff Maqetuka, South Africa’s envoy to Russia, dropped a bombshell: 25 nations, including Mexico, are itching to get into the BRICS club, as reported by Eurasia Network. This bit of news isn’t just chit-chat; it’s a big deal, coming at a time when Mexico and the United States are butting heads more […]
Inside Mexico and Canada’s bid to ditch the US dollar
As the geopolitical chessboard sees new moves, Mexico and Canada’s position on joining the BRICS bloc, and by extension, their stance on the US dollar, is garnering global attention. 2023 witnessed a seismic shift in global financial dynamics, with BRICS countries actively seeking to reduce their dependency on the USD. While the bloc expanded its […]
What’s the deal with Mexico and the BRICS?
Mexico, a country renowned for its vibrant culture and robust economy, has been the subject of speculation regarding its potential involvement with the BRICS Alliance. In August, the BRICS bloc, the coalition of emerging national economies comprising, expanded to include new members like Egypt and Iran. However, Mexico, contrary to circulating rumors, has clarified its […]
Mexico’s economy proves resilient as peso surges against the US dollar
The latest economic indicators for Mexico provide a positive outlook for the country’s financial health. The annual inflation rate has declined, reaching 4.44%, the lowest since March 2021. That marks the ninth consecutive fortnight of decreasing inflation. Additionally, the country’s economic activity showed growth for the fourth consecutive month. In July, economic activity increased by […]
Mexican crypto market gets a boost as Paxos partners with Mercado Libre to offer USDP stablecoin
In a move set to alleviate the burden of exorbitant remittance fees for customers, Paxos, the pioneering blockchain finance company, has joined forces with MercadoLibre, a leading online marketplace, to introduce the Pax Dollar (USDP) to the Mexican crypto market. This groundbreaking collaboration, announced on June 28th, will utilize MercadoLibre’s widely-used payment service, MercadoPago, to […]
Launch of Mexico CBDC might not happen as soon as expected
According to recent information that has surfaced from Banxico, the country’s central bank, the Mexico central bank digital currency (CBDC), also known as the digital peso, will most likely not be ready by the year 2024, despite the fact that this date was announced by the Mexican government in 2021. A digital counterpart of a […]
Mercado Bitcoin plans to expand to Mexico this year
Mercado Bitcoin, a Brazilian crypto exchange platform, intends to expand to Mexico. The SoftBank-backed platform intends to enter Mexico before the year ends. Mercado Bitcoin is positioning itself to take over the Latin American market by expanding tactically. In an interview, Reinaldo Rabelo, CEO of Mercado Bitcoin, stated that the firm would start doing business […]
Mexican authorities burst 12 crypto exchanges involved in money laundering
TL;DR Breakdown Mexican authorities burst 12 exchange firms involved in money laundering. Crypto continues to be big tool for money launderer. Mexican authorities have raided through 12 local crypto exchanges said to have been involved in laundering money for the Jalisco drug cartel in the country. The Financial Intelligence Unit, behind the burst operation got intelligent […]
Xoycoin debuts as the first Mexican cryptocurrency
TL;DR Breakdown • Xoycoin will be used to avoid paying commissions on bets.• MetaMask, Bitso, and Uniswap will open investments with the token from today. The Xoy Capital company, located in Jalisco, Mexico, showed its new technology focused on the Xoycoin cryptocurrency. The token would be the first cryptocurrency in Mexico to be based on […]
Mexican authorities denounce crypto, says it is no legal tender
TL;DR Breakdown Mexican authorities restate ban on crypto 2018 Mexico rigid crypto law Pliego declares support for Bitcoin Mexican authorities have announced that cryptocurrencies are not legal tender in the country. They also warned financial institutions not to consider adopting crypto, noting that they risk facing sanctions if they do. Mexico Central Bank and finance […]
Mexican billionaire endorses Bitcoin says he’d hodl for 30 years
TL;DR Breakdown Mexican Billionaire to hold BTC for 30 years Says his Bank would begin accepting BTC Ricardo Salinas Pliego, one of the richest men in Mexico, has provided a massive boost for the number one cryptocurrency, Bitcoin. The Mexican billionaire who described fiat currencies as ‘fraud’ noted he would hold only Bitcoin for the […]
