The cryptocurrencies They are not living their best moment, their constant drop in value is news in recent days and despite this, industry participants seek to demonstrate the benefits of their technology in operations, such as transnational shipments or remittances.
according to the platform bitsoduring the first six months of the year, it processed nearly 1,000 million dollars in remittances from the United States to Mexico, that is, a growth of 400% compared to the same period in 2021.
According to the firm, which currently has more than 5 million users in Latin America, international transferswhere remittances are included, are one of the most successful cases of cryptocurrencies and their blockchain technology, as they save time in the operation and money in commissions, in addition to eliminating intermediaries and allowing people to receive quantities shipped in real time.
“Undoubtedly, the Mexico-United States corridor is an extremely important market for us where many people depend on remittances to access a decent life and satisfy their basic needs, therefore, it motivates us even more and we are committed to bringing these services to other countries where we operate”, commented Carlos Lovera, Business Development Leader at Bitso.
This news occurs in a context where the value of the main cryptocurrency, Bitcoin, is already around 20,000 dollars, that is, a loss of value of almost 70% compared to its maximum historical value, which was in November 2021 when it exceeded 67,500 Dollars.
perspectives
During the period of the pandemic, remittances have been the main source of many families in Mexico to the point of reaching historical figures during this period of the current contingency. Last April, the flow of remittances sent to Mexico reached 4,718 million dollars, that is, a growth of 16.5% compared to the same month of 2021.
Thus, the accumulated number of remittances sent to Mexico in the first four months of the year was 17,000 million dollars, of which, according to Bitso, 4% was processed through its crypto platform.
According to estimates by the firm, it is expected that during 2022 this platform will process at least 2,000 million dollars of remittances and by 2023 it expects to process at least 10% of the entire remittance market.