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Author: Admin | 2025-04-28
Crypto’s rising popularity in MexicoOn December 20121 The Central Bank of Mexico (Banxico) announced its intention to launch a central bank digital currency (CBDC) by 2024, aiming to leverage new technologies for enhanced financial inclusion. This move aligns Mexico with other Latin American nations like Brazil and Peru, which are also advancing CBDC development. Banxico aims to have its CBDC implemented by the end of 2024, marking a significant step forward in the country's digital currency landscape.According to Statista's projections In 2023, Mexico ranked among the top 20 countries globally for crypto adoption by transaction volume. Analysis of web traffic to cryptocurrency transaction websites revealed this trend. Interestingly, Mexicans showed a slight preference for decentralized services like Decentralized Finance (DeFi) over centralized ones. Moreover, the country saw a rise in P2P crypto exchanges, securing the 30th position out of 146 countries worldwide.On may 2022 Tether expanded its stablecoin offerings with the launch of MXNT, pegged to Mexico’s peso. Supported initially on Ethereum, Tron, and Polyong blockchains, MXNT marks Tether’s debut in Latin America. With 40% of Mexican companies eyeing blockchain and crypto adoption, Mexico emerges as a promising crypto hub.How many crypto owners in Mexico?In Mexico, cryptocurrency ownership is on the rise, with 14% of respondents reporting ownership. Bitcoin leads as the most popular coin (6%), followed by Litecoin (2%), Bitcoin Cash (2%), and Ripple (2%). Colombia and Austria also boast a 14% cryptocurrency ownership rate.In Mexico, similar to Brazil, the predominant age group for crypto ownership is 18 to 24 years old, comprising 22% of all crypto ownership. Meanwhile, in the U.S., ownership leans slightly older, with 25 to 40-year-olds representing 25% of crypto ownership.How Do Mexicans View Crypto?The recent Global Crypto Literacy Survey revealed intriguing insights, including Mexican respondents reporting higher crypto awareness compared to those in the U.S. or Brazil. Potential factors for this trend may include cultural, educational, and technological familiarity, suggesting longer-standing crypto usage in Mexico.Mexico – Next Latin America Crypto Hub?Mexico's burgeoning e-commerce landscape, expanding by 23% in 2022 according to the Mexican Association of Online Sales (AMVO), along with its global leadership in
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