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Mexican Bank, Banco Azteca, Wants to Support Bitcoin

The acceptance of Bitcoin is now growing around the world. Even though so far banks did not support Bitcoin, a bank in Mexico, Banco Azteca, has announced its plans to accept Bitcoin in the future. Back at the end of June 2021, Ricardo Salinas Pliego, the bank’s owner, announced that they wanted to be the first Mexican bank to offer cryptocurrencies.

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Most banks have not really warmed up to cryptocurrencies in recent years. However, now it seems that many banks have now recognized the value and benefits of Bitcoin and Co. This is now also the case in Mexico. There, Banco Azteca could soon accept Bitcoin.

The Mexican businessman and billionaire Ricardo Salinas Pliego not only has the well-known laser eyes on his profile picture. These are used to publicize his support for cryptocurrencies. Back in November 2020, Pliego announced that he had invested ten percent of his net worth in Bitcoin.

Given that the Mexican’s net worth is estimated at around $15.6 billion, this investment is likely to have paid off given the sharp rise in the exchange rate since then. Pliego is considered the third richest person in Mexico.

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Bitcoin News was already a topic at the end of June

Back at the end of June 2021, Pliego announced that they wanted to be the first Mexican bank to offer cryptocurrencies. The 65-year-old commented on this as follows: “Bitcoin is a good way to diversify one’s investment portfolio, and I think all investors should start looking at cryptocurrencies and their future. At Banco Azteca, we are working to make them accessible to our clients to further promote [financial] freedom.”

Not enthusiastic about every cryptocurrency

While Pliego professes his support for Bitcoin, he is not a fan of other cryptocurrencies such as Dogecoin. In fact, a statement made by the billionaire went viral after he told a fan of the meme cryptocurrency that he would remain poor.

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Bitcoin adoption on a good track despite regulatory measures

The crypto industry is undergoing a transformation. More and more companies and public institutions are realizing that cryptocurrencies are a way to preserve assets or send money across the globe. However, NFTs also represents a new opportunity for companies to increase revenue through merchandising.

In addition, blockchain technology offers many other opportunities through which currently bureaucratic activities can be simplified in the future. The market has been very unregulated in recent years. That has not only prevented large companies from investing in Bitcoin and Co. but also made it much easier for potential fraudsters.

Currently, Binance, for example, is struggling to obtain licenses in numerous countries. Since many countries have different requirements here, this is no easy feat. Nevertheless, more and more companies and banks are opening up at the same time, because there are new regulations by the state in almost every country, which sometimes have a negative effect, but make for a much safer market.

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(Featured image by AaronJOlson via Pixabay)

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First published in CRYPTO MONDAY, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Arturo Garcia started out as a political writer for a local newspaper in Peru, before covering big-league sports for national broadsheets. Eventually he began writing about innovative tech and business trends, which let him travel all over North and South America. Currently he is exploring the world of Bitcoin and cannabis, two hot commodities which he believes are poised to change history.

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