Cryptocurrency exchange Marexbit will add the ability for Mexican users to cash out cryptocurrencies in pesos.
Citing World Bank statistics, Marexbit reported that expats and expatriates from around the world sent about $700 billion to their families and friends back home from the United States in 2020. However, when making traditional international payments, the sender of funds has to pay a 6-7% fee, and recipients can only accept cash in local currency. They have no way to store, grow or protect their money from inflation.
That’s why Marexbit announced the launch of a special program with which cryptocurrency recipients in Mexico can cash out in pesos. Exchange customers can now instantly send cryptocurrencies to Mexican users using Marexbit. The recipient will be notified and will be able to check the balance in their Marexbit account.