#mexico More than 3 million people own cryptocurrencies in Mexico

By mid-2024, the report "Key Updates on Regulations and Ecosystems in Latin America," published by Sherlock Communications, stated that the equivalent of 2.5% of Mexico's population owned cryptocurrencies. This figure corresponds to 3.1 million people, as previously reported by Cointelegraph in Spanish. At the time, the report indicated that the rise of crypto ownership could be attributed to remittances from immigrants, which is considered the main driver of adoption in the country.

Mexico is the second largest recipient of remittances in the world, with the total amount reaching a record of $63 billion in 2023. These figures represent a considerable opportunity for the crypto ecosystem, and many players are trying to access this market.

"The crypto industry, which has been growing in the Mexican market, ranked 16th in the world and third in Latin America in 2023, rising from 28th place in 2022 in the Chainalysis Global Crypto Adoption Index. Furthermore, it is important to note that, according to CoinATMRadar, as of February 2024, there are 63 cryptocurrency ATMs operating in the country," the report emphasized.