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News Article

Mexican Stock Exchange Seeks to Include Cryptocurrencies

By Sofía Hanna | Fri, 10/08/2021 - 17:50

José -Oriol Bosch, general director of the Mexican Stock Exchange (BMV), announced that the necessary authorizations are being sought to list cryptocurrency in the BMV. This decision was made based on the interest and demand that exists for cryptocurrency while searching for the best opportunities and benefits for the Mexican market.

 

This decision was made known at the Forum “I want to invest in the Stock Market, where to start?” during the National Week of Financial Education (SNEF). It was clarified that this initiative has the objective of responding to the demand of people who want to start investing and this presentation was the first approach where Bosch had the opportunity to address all topics that a beginner should learn about the financial market and understand the most optimal investment options. “If at any time it is authorized, the use of cryptocurrencies as a means of payment, as a means of exchange, will be regulated because we will be there. We have been watching and working in case this change occurs,” said Bosch. “The best thing for everyone’s safety is that the different financial assets are operated within a regulated environment and in a formal market.” Some of the benefits that come from cryptocurrencies address bridging gaps in financial inclusion. An MBN Startup Contributor, Javier Martínez, Chief Product Officer of Bitso, says that “crypto-powered solutions can enable efficient, faster, and cheaper cross-border payments than traditional processes. Also, they can play an important role in countries that have been troubled by the regressive effects of inflation and capital controls, such as Venezuela and Argentina. Furthermore, as a borderless means of exchange, cryptocurrencies also offer an alternative to interact with the global economy.” 

 

In addition, Bosch clarifies that this change in the stock market is intended to benefit everyone, especially the efforts they have made in the Mexican Stock Exchange for many years, aimed at developing the market.  “The market will grow and if the market grows we all win.” 

The data used in this article was sourced from:  
BMV, MBN
Photo by:   Executium, Unsplash
Sofía Hanna Sofía Hanna Junior Journalist and Industry Analyst