Remittances represent the first source of income in Mexico and will be bitcoin’s biggest impact

Posted on 22 August 2014 at 04:52

Gabriel Miron is the founder of MEXBT, the first professional Mexican bitcoin exchange. I first met Gabriel in Bitcoin Singapore 2013, and I have been following the Mexican bitcoin scene since. MEXBT’s focus is to enable cheaper remittances between Mexico and the United States. They believe that money transfers can be bitcoin’s biggest use in Latin America. Gabriel explains that in Mexico it represents ten percent of the GDP and it is the first source of income for the country; with twenty three billion USD a year. Gabriel and MEXBT recently represented Mexico (as one of the country’s top five start-ups), in LAB4, the Pacific Alliance’s First Entrepreneurship and Innovation Forum, in Santiago, Chile. Gabriel explains that MEXBT has broad support from Mexican banks and corporations, and does not see any hurdles to come until the exchange will start handling large volumes. At the moment, he says, there are no operational issues. Follow @GabrielMiron

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