exclusive
Using XRP, Bitso captured a slice of the U.S.-Mexico remittance market in 2019. It’s eyeing much more in 2020
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Quick Take
- In 2019, cryptocurrency exchange Bitso processed 2.34% of the $686 million in weekly remittances from foreign countries to Mexico with XRP
- Bitso said it has been experiencing notable growth recently since it partnered with Ripple
- In 2018 and 2019, remittances from the U.S. contributed the highest foreign currency inflows to Mexico, more than foreign investments and tourism.
A crypto-focused exchange service captured a slice of the transaction volume between Mexico and the U.S. last year using XRP.
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