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Mexican Bitcoin Exchange meXBT Launches Trading Platform

Last Updated March 4, 2021 4:40 PM
John Weru Maina
Last Updated March 4, 2021 4:40 PM
El Angel, Monumento a la Independencia
El Angel, Monumento a la Independencia

Bitcoin exchange meXBT has launched a professional trading platform for cryptocurrencies in America. The company which is based in Mexico is led by a team of pioneers who are powering the transformation of the digital currencies in Latin America.

Announcing the launch of the trading platform which will be based in Mexico City and operating in Latin America, meXBT said that the exchange will be known as the ‘The Crypto Exchange of the Americas’. The exchange was launched Sunday November 2, 2014 at the Money 20/20 meet in Las Vegas.

Speaking at the launch of the exchange, Gabriel Miron, CEO and Founder of meXBT said that they were ‘excited’ at the launch of the platform. He added that the exchange had been made possible with the help of their technology partner Alphapoint. The partnership allowed meXBT to focus on lowering fees and addressing opportunities such as remittances and international commerce throughout Latin America.

P2P for Mexico’s Unbanked Population

Like other developing regions and emerging markets, Latin America is characterized by high mobile penetration rates and low inclusion into the formal banking sector. Mexico is a case in point. The country has a population of 112 million. Out of these, only approximately 39 million are in the formal banking sector, representing only about 35% of the total population. At the same time, 111 million Mexicans own a mobile phone representing a mobile penetration rate of 99%.

Miron avers that cryptocurrencies will lead the way in transforming the way countries interact with money, and it would appear that the country’s central bank concurs. In a report jointly authored  by the Comision Nacional Bancaria y de Valores or CNBV, the country’s banking and securities regulator and Banco de Mexico, the central bank, it was noted that there was huge demand for P2P especially in the rural areas. Bitcoin by its very nature is P2P and would, therefore, work well in Mexico’s unbanked communities just like in other parts of the world.

meXBT’s Products and Services

Along with Miron, co-founders CTO William Coates and COO Joel Cano, previously the fifth employee of Microsoft Latin America, are executing on the vision to provide easy access to crypto currencies through innovative solutions. The exchange offers a simple-to-use interface for first-time buyers, along with advanced charting and trading features for sophisticated traders.
meXBT also has partnered with cash payment processors to offer several cash in-and-out solutions in order to address the unbanked population.

‘meXBT shares our vision to make digital currencies more accessible and easier to use for everyone around the world,’ said Vadim Telyatnikov, CEO of AlphaPoint. ‘Through its growing partnership pipeline, meXBT makes it easier for its users to deposit and withdraw funds through any convenience store in Mexico, and have low-cost remittance services to-and-from the country, demonstrating meXBT’s commitment to execute on that vision in Latin America.’

Additionally, Hong Kong based bitcoin startup incubator Seedcoin and its Chief Startup Officer Eddy Travia deserve credit for supporting meXBT’s rapid success. ‘Right from the start, through our initial discussions with Gabriel, we felt it was the right time to back the first professional crypto exchange in Mexico. Gabriel was the perfect entrepreneur to lead such a venture,’ said Eddy Travia.

‘We have been lucky to work with a team and incubator who not only fully understand the bitcoin industry but also the needs of customers in the Latin American market,’ added Gabriel Miron.

About meXBT.com

Providing digital currencies for serious traders and simple enough for beginners, meXBT’s goal is to provide the best and most secure service to traders of digital currencies. MeXBT is combining state-of-the-art technology with a rock solid legal and fiscal structure on a single platform called meXBT.com, the ‘Crypto Exchange of the Americas,’ and the place to be when exchanging cryptos.

About Alphapoint

AlphaPoint  was established in 2013. The company is the leading exchange technology platform provider to support digital currencies. The company powers some of the top bitcoin and altcoin exchanges in the world, and is faster than traditional exchanges with the ability to process nearly one million transactions per second. By easing the adoption of digital currencies, AlphaPoint’s secure, scalable and customizable platform is helping change how businesses and consumers transact. AlphaPoint has offices in New York City, Philadelphia, and San Francisco.

About Seedcoin

Seedcoin is the world’s first seed-stage Bitcoin startup virtual incubator. Seedcoin’s objective is to invest in the creative entrepreneurs of the cryptocurrency economy and help them develop the future services, products and applications re-shaping the way we interact with money on a daily basis.

Image credit: CC Wikipedia/Poison Orange; other images from Shutterstock.