(BlockBar) Mexican company Amero-Isatek has announced that it will open its first physical cryptocurrency exchange station in Nuevo León, Monterrey. To be noted, it will also soon expand into another seven locations across Mexico.
According to Amero-Isatek estimate it will serve over 800,000 cryptocurrency users in Central Mexico. Users of the exchange will trade in Amero which Amero-Isatek’s own crypto asset. The asset launches on the day of the Nuevo León opening.
The firm already participated in the world’s biggest cryptocurrency real estate exchange. It is worth paying attention that in this exchange, the company acquired 1,400 hectares in South Lower California for $2.8 million paid in Amero.
According to the CEO of Amero-Isatek Alfonso Jiménez, there’s already an exchange in Monterrey, called GTM, but it doesn’t qualify as a cryptocurrency service.
He further said “Today there are no physical exchanges in Mexico and we are going to open them.”
In an interview Jimenez said that the company is hoping to be able to comply with the Bank of Mexico(Banxico) and international regulations. To carry out financial operations the company will also acquire two licensed Estonian crypto exchanges, Invest Global and Global XVC.
Jiménez said: “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.”
Amero’s will offer services in seven other Mexican states: Jalisco, Sinaloa, South Lower California, Queretáro, Quintana Roo, and Yucatán, other than Monterrey.
The launch of physical exchanges circumnavigates Mexico’s nascent fintech laws in the country. The regulations state that new establishments can operate in physical locations under a “sandbox” regulatory scheme for new finch businesses.
While the firm describes itself as a Fintech enterprise with an ecological bent, according to its CEO this definition will evolve depending on Mexican laws.
“If the fintech law turns out to be friendly in Mexico as well, we’ll be registered as a fintech with financial operations,” Jiménez said.
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.
