Blockchain company Amero-Isatek has announced that it is going to open a physical cryptocurrency exchange in Monterrey, Mexico, on June 21.
As reported by Coindesk, the company is also planning to expand its reach in the country by opening seven more similar exchange stations.
The firm is taking advantage of the country’s regulatory “sandbox” scheme which allows new fintech business to operate in the country from a physical location.
A market with great potential
According to the company’s estimation, it will provide services to around 800,000 digital asset traders in the region. In addition, it is also going to launch its proprietary digital asset called Amero on the same day.
Apart from Monterrey, the Mexican crypto exchange will provide trading services in seven other states as well - Queretáro, Sinaloa, Quintana Roo, Jalisco, Baja California Sur, and Yucatán.
“Today there are no physical exchanges in Mexico and we are going to open them,” Alfonso Jiménez, CEO of Amero-Isatek, told the publication. He earlier revealed that the exchange is trying to comply with the regulatory rules of the Bank of Mexico and other international organizations.
A backup plan
Amero-Isatek is also planning to expand its operations in the international markets and is already in the process of acquiring two licensed Estonian crypto exchanges - Invest Global and Global XVC.
The acquisition in the crypto friendly jurisdiction will also help the company to continue its operations in case of any sudden crackdown on crypto by the Mexican government.
Earlier this year, Finance Magnates reported about the plan of the Bank of Mexico to bring a regressive crypto Regulation which will affect the country’s massive remittance industry.
“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,” Jiménez added.
