There has been significant activity in the Mexican financial market as seen by the recent changes in the
Mexican Peso and its digital counterparts. The peso has seen frequent fluctuations against the
USD, touching multi-year highs before experiencing temporary depreciations. Factors like
US elections, tariff threats, and economic data have largely been impacting the value of the Peso. In parallel, renewed focus on
'Trump trades' has also seen cryptocurrencies like
Bitcoin register gains against the peso, with interest in the
crypto market in Mexico notably rising.
An evolving trend is the replacement of peso notes with elegant $20 coins. In the digital world, we also see the introduction of
MXNe, a new stablecoin, and Tether, launching a Peso-pegged stablecoin
MXNT. Operating in opposite directions, the peso strengthened reaching a 7-year high against the USD, while the Mexican Peso depreciation lead to USD/MXN peaking concurrently.
In an effort to boost the use of digital currency,
Coinbase now supports Mexican users, and
Circle integrated the USDC with payment systems of Mexico. As the crypto landscape grows, more trading platforms are offering Mexican Pesos trading pairs, and
Binance listed XRP and other major crypto pairs.
It's notable that despite changes in the conventional market, the peso's digital counterparts continue to hold the fort, showing resilience against the USD upward pressure.
MXN Coin News Analytics from Thu, 20 Oct 1983 07:00:00 GMT to Wed, 26 Feb 2025 08:00:00 GMT -
Rating 2
- Innovation -5
- Information 8
- Rumor -3
