- Bitcoin Mexico spoke with Etienne Luquet, director of regulatory affairs for the national unicorn, about how the brand was consolidated, future plans and its agreements with the world of soccer based on alliances with the Mexican National Team, Tigres UANL and San Pablo de Brazil.
With almost 129 million inhabitants, Mexico is the tenth most populous country in the world and the second in Latin America, just behind Brazil (216M). This makes it an interesting pole and the crypto scene is going strong in the region. bitsothe most important exchange in the country, is the great protagonist.
During the Blockchain Land from Monterrey, Bitcoin Mexico spoke with Etienne Luquet, director of regulatory affairs for the national unicorn, about how the brand was consolidated, future plans and its agreements with the world of soccer based on alliances with the Mexican National Team, Tigres UANL and San Pablo de Brazil.
When asked, what has been the formula for Bitso’s success? Étienne Luquet declared:
“I think we put our two mottos to the test: easy crypto and crypto safe. We are a very easy to use exchange, we are the exchange that has the bridges between the traditional financial system and the crypto system. We have a very friendly interface. The experience of someone who wants to buy crypto for the first time is very pleasant. We are the only end-to-end regulated exchange, so this gives a lot of security. We have the approval of the financial authorities to operate and we are being watched “.
While adding:
“We make crypto useful. We are a company that has been dedicated to using cryptocurrencies as an infrastructure for the provision of basic financial services. Proof of this is that we have a remittance service. We currently have 6% of remittances from the United States to Mexico at a lower cost and with unparalleled speed.”.
Bitso and its presence in Latam
Bitso started operations in 2014. However, it gained acceptance across the continent and expanded to Argentina, Brazil, and Colombia. Luquet marks the differences between these.
“Each market is different, each culture too. The way you talk to people who want to enter the crypto market in Colombia, Argentina or Brazil is different from how you do it in Mexico. This forces you to have a much more local approach, depending on the needs you find in these countries. The macroeconomic context, the microeconomic context, the needs for access to financial services are different in each country. You have to focus and address those needs.”assured.
One of the things that helped Bitso position itself in the hearts of its users was to look for associations that will help it reach their interests, and one of those was Soccer.
“Football is a sport loved by everyone, everyone likes it. The idea that your brand is associated with issues that people love a lot, issues that translate into winning, passion, is an advantage. They are very good marketing opportunities. It is a great experience”Luquet commented..
Regulation
Bitcoin Mexico also consulted him about the Fintech Law that currently governs in Mexico. Luquet, who acknowledged that the company is in talks with the government officials, gave his opinion.
“The fact of granting legal certainty to a sector that, five years ago was still nascent, was a great success. You allowed people who had doubts about whether it was a viable issue, to remove their doubts and more investment, creativity, arrived. Mexico is a very robust fintech market, there are many different proposals, the same is not repeated”, he expressed.
And closed:
“There are always issues that can be improved, but we are at a time when technology does not require any highly relevant regulatory change”.
Mexico is an interesting market worldwide and Bitso achieved what many are looking for: to take it over and plant its own flag.
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