Coinbase Global announced on Tuesday that it is looking to launch a pilot program enabling cryptocurrency recipients in Mexico to cash out their funds in the native currency.
As a result, customers may now withdraw their crypto holdings in pesos. To do that, they will be invited to use a special redemption code generated through their Coinbase app and receive their FIAT money at 37,000 retail and convenience stores across Mexico.
The service will remain free through March 31 in a bid to popularize it. After that period a nominal fee would be introduced.
Coinbase claims that even after the fee is introduced, the solution will still oblige consumers to pay just 25-50% of traditional processing fees used by mainstream financial operators.
Coinbase has had a particularly good start to the year so far. The company’s bold attempt to catch the most eyeballs during Super Bowl LVI resulted in a brief website crash which signaled the zeal new consumers showed in the crypto exchange and crypto products in general.
The company similarly introduced a feature allowing consumers to receive tax refunds directly in crypto making for another convenient and highly sought-after feature made a reality.
In early January, the company announced that all employees will get a mandatory four-week break with only a skeletal service running that period.
If you would want to use your crypto on popular gaming websites, we have some excellent offers for you. Visit Bitcasino, 1xBit or FortuneJack and to find out more!