In Mexico, what would be the first cryptocurrency in that country was launched, the name is Xoycoin and it will be based on the Ethereum network, which would be the second best positioned in the table of cryptocurrencies around the world.
This digital currency has been announced by Xoy Capital and being developed with blockchain technology we can speak of a secure token. Once selected the platforms with which it will work, it can be sold or bought.
The Xoycoin starts with a value of $ 0. 40 dollar cents and to start investing in this you can do it from 20 Mexican pesos.
Regarding the use of this new crypto, the CEO of the creator company, Carlos Lazo, when presenting it said that is sure that cryptocurrencies will be Mexico’s new financial system .
Lazo assured that currently more than 150 businesses in Mexico accept cryptocurrencies as a form of payment and more and more other sectors recognize and accept virtual currency.
However, at the end of June the Bank of Mexico (Banxico) in a Communicated in conjunction with the Ministry of Finance and the National Banking and Securities Commission, recalled that there is a regulation that prohibits all financial institutions from operating with any cryptocurrency a.
With this statement, the government of Mexico emphasized that no cryptocurrency has official currency in Mexico according to the country’s current legal framework. Likewise, it was necessary to emphasize that no crypto asset represents a currency as such.
Meanwhile Xoy Capital, developer of this cryptocurrency, explains that the economic support of this currency is based on the corporate value of the company. A firm based in Guadalajara and Jalisco, made up of companies such as Xoycoin, YOX, Upick, Híjole! Tequila, Elemental and Desfiladero Azul.
In addition, this firm is expanding with sports teams in Mexico, among them are: the Libertadores de Querétaro basketball team; that of American football, Rojos CDMX; and in baseball the Generals of Durango team.
Therefore, sports trading is the main one with this crypto, of In fact, they were the first transactions made by users on a platform called Upik.
The CEO of the company explained that although xoycoin began to develop it a year and a half ago, Now they decided to get the token through Ethereum to be used as a payment gateway a few months ago in bookmakers.
We will see how the regular financial system will react Mexican to these new creations. Also a month and a half ago, the Mexican company Moneta, a leader in electronic payments and big data, launched a stablecoin called MMXN with the idea of expanding operations towards the remittance market. This currency became operational in mid-June.
Although Moneta made the clarification at the time that MMXN did not It was a digital currency, much less was it going to replace the Mexican peso, even if it had the same value.