Let’s stay humble and take 6x like Coinbase did and value it around 250 to 300KK USD, after all money is on trading fees not withdrawals.

So why does all this matter?

At the moment I’d like to mention that Bitso has no close competitor and haven’t been a threat any close to taking even a significant market size, Also, Mexico is a hard market to penetrate due legal complexity and high market knowledge needed, that’s why there are no foreign exchanges, such bureaucracy is only understandable for Mexicans + Bitso has worked closely with the new Mexican fintech law recently approved and done an amazing work in my opinion, creating strong bonds with them but at the same time making it harder for any other exchange overtake their monopoly.

Nevertheless, Bitso has top tech on deposits and withdrawals, and I’m talking world level, I don’t think there is a faster exchange in the world, it takes 5 seconds to have MXN pesos from any Mexican bank to Bitso and the other way around thru SPEI(Interbanking Electronic Payment System), so thumbs up on that!

Blockchain technology is here to stay and Bitso is the first gate to the Latin-American and South American markets, remittances this year will be over 30 Billion USD contributing 3% of Mexico’s GDP and companies are charging up to 6% for a simple transfer like Western Union.

Mexico-US corridor is one of the main markets in the world, US exports reach more than 60 Billion USD a year being the Mexico the 3rd biggest consumer market of the US.

Banks involvement is highly noticeable, the new law clearly states see that if you want to fund or withdraw revenues or money at all, has to be thru a financial institution (A bank of course) that way all Bitso accounts are fully monitored, therefore if the next monetary system runs on the blockchain who do you think the main player will be? As well as Coinbase will be for the US.

Also, the developer force is huge with companies like IBM, Intel, HP, Motorola, Wizeline, etc, and with super low wages makes such a great place for outsourcing (Guadalajara, Mexico -The next Silicon Valley).

Mexico is becoming relevant, there seem to be some serious projects and interest from some reverse ICO’s from well-known companies, probably the volume is not there yet but its growing and Bitso compensates that earning from fees, E.g. XRP has been one of the highest volumes in crypto on the Sep 21 pump, apparently we love large caps cheap coins without fundamentals and market cap logic, but more than 13,500,000 XRP traded in a 24-hour lapse on an average price of .80Cents and we have also peaked at 1600BTC a day.

But fuck math right?

Ok enough, overall Bitso has accomplished an amazing job for the ecosystem in our country and I know they are super legit and compromised with everything they do. Within less than 4 years old CEO Daniel Vogel, tough leadership has taken the exchange to high standards. Now with over 60-80 employees, the Mexican trading site firm is taking silent but huge steps towards the new era of blockchain.

I don’t think any other exchange or bank can penetrate the Mexican market without a partnership with Bitso or acquiring it. But those are just my two weis. (would appreciate a cut for the advice)