Only users in Mexico will be able to use their national currency to buy or sell DAI.
The most recognized cryptocurrency exchange platform in Mexico, Bitso, recently enabled the option to buy DAI in Mexican pesos, the national currency. According to local reports, this alternative will only be available to users residing in the Aztec country.
The official blog of this crypto exchange house issued the news last March 30th. The statement expressed that since March 31st the option to buy the renowned stablecoin DAI, using the official currency of Mexico, will be available on its platform. The platform ensures that it is an important step for crypto trading in that Latin American country.
Currently, the operations with this national and fiat currency in the crypto exchange house are limited. Besides, the DAI cryptocurrency will have the status of trading through orders with a limit per user. These types of limitations are common among virtual exchange houses. Their objective is to maintain control of commercial traffic and avoid saturation of the platform in places where there may be high demand.
The announcement also clarified that exchanges between BTC / DAI and DAI / Mexican pesos are possible on the platform since April 3rd. Thus, giving users time to learn about the mechanisms of operation of the new method of exchange. Bitso communicated that this new type of exchange would only be available for Mexico. For this reason, Bitso invited users from Argentina to buy DAI using another cryptocurrency, such as Bitcoin.
Without giving more details about other plans in the future, Bitso’s announcement indicates that new changes will be incorporated. The exchange house hopes that these new options help users to plan the exchange between the different cryptocurrencies available.
Bitso Gives Priority to Stablecoins
In this new exchange method that Bitso incorporates for its users, the importance that the company is having with the so-called stablecoin is evident. DAI results to be the second cryptocurrency of this type available on the platform. Allowing the free exchange of this cryptocurrency with the Mexican peso would help boost the cryptocurrency market in Latin America.
On the other hand, the first stablecoin added to Bitso was TrueUSD. This cryptocurrency works through the CRED network, which pays to hold fees to its clients. Also, this stablecoin contains the functionality to block accounts and assets if someone can determine that these assets were used in fraudulent events. This is something that offers a higher level of security and trust among customers.
The platform contains information related to the management and flow of exchanges between Bitcoin and DAI. Therefore, it is evident that there is a large volume of commercialization of the cryptocurrency. This could determine the recent addition of the Mexican peso to the DAI purchase.
Besides, there is a graph that illustrates the level of commitment that the platform gets from exchanging these assets. According to the platform, the more cryptocurrencies are bought or sold, the lower the commission Bitso asks for the exchange.
By María Rodríguez