This is one conversation the entire #XRParmy is going to love. Daniel Vogel, CEO of Bitso, which is Mexico's largest crypto exchange details how the company is utilizing XRP the asset (not just Ripple software) to catch a piece of the $35B in remittances that flows across the US-Mexico border each year. Sourced mainly from Moneygram in the US, Bitso saw $18M in XRP remittance volume the last week of December and that number has been growing 15-20% each week. Daniel hopes to catch as high as 20% of the weekly US-Mexico remittance flow by the end of 2020.
Beyond highlighting a clear win for the Ripple team and XRP, this conversation sheds light on a region of the world that is ripe for crypto adoption beyond pure speculation. Bitso's home country of Mexico is home to 125 million people, 87 million of which have smartphones while only 40 million have bank accounts - only 22 million of these bank accounts are active. Basically, the perfect ingredients for crypto adoption.
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