CoinDesk reports that blockchain company, Amero-Isatek, has announced that it will launch a physical crypto exchange in Monterrey, Nuevo León on June 21, with plans to expand to seven more locations in Mexico, including Queretáro, Sinaloa, Quintana Roo, Jalisco, South Lower California, and Yucatán. Users of the exchange will be conducting trades via the company’s own cryptoasset, Amero, which will launch on the same day as the exchange. The company expects to serve over 800,000 traders in the region.
CEO of Amero-Isatek, Alfonso Jiménez, said that no physical exchange existed in Mexico,
Today there are no physical exchanges in Mexico and we are going to open them.
The launch of a physical exchange exploits a very specific existing regulation in Mexico – new fintech companies can operate under sandbox regulation by operating a physical location. The company has also acquired licensed Estonian exchanges, Invest Global and Global XVC, and with them, Jiménez said that he was hopeful about working with the Bank of Mexico and complying with regulations,
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…if the fintech law turns out to be friendly in Mexico as well, we’ll be registered as a fintech with financial operations.