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Coinbase to allow crypto recipients in Mexico cash out in pesos

Friday 18 February 2022 10:41 CET | News

Coinbase has launched a pilot program to allow cryptocurrency recipients in Mexico to cash out their funds in pesos.

Cryptocurrencies are seen as an important way for people to send money to family and friends overseas because of the borderless nature of crypto and fewer intermediaries than traditional currency transfers.

Crypto recipients in Mexico can now generate a redemption code on their Coinbase app that can be used to receive cash at 37,000 retail and convenience stores across.

The service will be free of charge through March 31, 2022, after which customers will be charged a ‘nominal fee that’s still 25-50% cheaper’ than traditional international payment options.

The pilot program will begin in Mexico and the company will consider other regions over time.


Source: Link


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Keywords: cryptocurrency, product launch, remittance, cross-border payments, money transfer
Categories: DeFi & Crypto & Web3
Companies: Coinbase
Countries: Mexico
This article is part of category

DeFi & Crypto & Web3

Coinbase

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