Mexico Is Getting Eight New Cryptocurrency Exchanges

The company Amero-Isatek announced that it will open its first physical cryptocurrency exchange station in Nuevo León, Monterrey on June 21.

Amero-Isatek estimates that it will server over 800,000 cryptocurrency users in Central Mexico.

According to Alfonso Jiménez, CEO of Amero-Isatek, there's already an exchange in Monterrey, called GTM, but it doesn't qualify as a cryptocurrency service.

"Today there are no physical exchanges in Mexico and we are going to open them", he said.

The launch of physical exchanges circumnavigates Mexico's nascent fintech laws in the country.

The regulations stat that new establishments can operate in physical locations under a "Sandbox" regulatory scheme for new finch businesses.

Jimenez said in an interview that the company hopes to be able to comply with the Bank of Mexico and international regulations.

"If the fintech law turns out to be friendly in Mexico as well, we'll be registered as a fintech with financial operations," he said.

Fintech laws in Mexico have had a tumultuous past in regards to cryptocurrencies.

Blockchain technology is opening a path for new financial technologies in the country and the Mexican government - and companies like Amero-Isatek - are definitely paying attention.