Billionaire to take the lead in establishing Mexico’s first bitcoin-friendly bank

Mexico’s third richest person, Ricardo Salinas Pliego, has increased his support for Bitcoin and revealed plans to open the country’s first BTC-accepting bank.

On June 27th the billionaire expressed his support for the widespread adoption of BTC and brought up his plans on becoming the first bank in Mexico to accept the world’s leading digital assets.

These comments were made after Salinas’ strong support for Bitcoin, and Salinas stated that it is “absolutely correct” to regard Bitcoin as the new gold.

Salinas is the founder and chairman of Grupo Salinas, a Mexican conglomerate that includes a major local bank Banco Azteca. The bank has annual revenue of US$2.54 billion in 2020 and has operations in Mexico, Panama, Guatemala, Honduras and Peru.

According to the Bloomberg Billionaires Index, Salinas’ wealth has increased by US$2.8 billion this year to US$15.8 billion. The news outlet added that Salinas stated that he invested 10% of his liquid investment portfolio in Bitcoin. He has expressed admiration for this asset many times.

In September 2020, San Francisco-based cryptocurrency exchange Kraken became the first cryptocurrency company to obtain a license to operate as a bank in the United States after obtaining a license from the crypto-friendly state of Wyoming. In October of the same year, the Wyoming State Banking Commission voted to approve financial institution Avanti to obtain a banking license for crypto-related services.

At the end of last year, the Office of the Comptroller of the Currency issued a charter that allows financial technology companies to provide loan products without the supervision of the national banking regulatory agency. Anchorage, the cryptocurrency custodian, became the first cryptocurrency company licensed under this charter in January 2021.

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