Tether builds up in Latin world: Mexican peso-pegged token launched
, about 40% of Mexican companies have a desire to incorporate blockchain technology and cryptocurrencies into their operations. Digging deeper into the statistics, we learn that only 2.5% of Mexico's population owns crypto, out of a total population of 130 million.
The potential to further expand and turn Mexico into a full-fledged Latin American crypto hub is clear. The adoption and use of stablecoins tied to the national currency will allow Mexico to facilitate the multi-billion-dollar flow of remittances into Mexico and provide a fast and less costly transfer of assets.
Commenting on the event, Tether CTO Paolo Ardoyno said that the growing use of cryptocurrencies in Latin America has made the need to expand Tether obvious, and MXNT, in turn, can minimize volatility for those looking to move their assets and investments from fiat to digital currencies. It is a mutually beneficial cooperation.MXNT is an addition to fiat-currency-linked stablecoins of the Tether storefront. The peso-pegged token joins the company of pegged-to-the-U.S.
This range is certainly good, but Tether's internal affairs cast a shadow over the positive news from the company. So, earlier in May, USDT
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