Ricardo Salinas Vows To Lead Mexico’s First BTC-Friendly Bank

Ricardo Salinas vows to make his bank the first in Mexico to accept BTC as the third richest man in the country so let’s read more in our latest bitcoin news today.

Ricardo Salinas vows to make better conditions for crypto users in the country after he doubled down on his support for BTC revealing plans to open the first accepting crypto bank in the country. The Mexican billionaire showed support for the widespread adoption of BTC and noted that the bank is working on becoming the first in Mexico to accept the world’s leading digital asset. The comments follow a strong endorsement for BTC by Salinas who initially stated that it was right to think of BTC as the new gold. Salinas is the founder and chairman of Grupo Salinas who is a Mexican corporate conglomerate that spans television and radio network TV Azteca with the consumer electronics retailer Grupo Elektra and Football Glub Mazatlan and Banco Azteca too.

If you are hoping to preserve your wealth for a generation, @RicardoBSalinas suggests you invest in #bitcoin. The strategy is simple – choose the highest quality asset you can find and #hodl. https://t.co/ScRubzNBuR

— Michael Saylor⚡️ (@michael_saylor) June 27, 2021

Banco Azteca which had annual revenue of $2.54 billion in 2020, operates in Mexico, Panama, Honduras, Peru, and Guatemala. The company started operating the bank in 2002 and offers consumer credit for goods, small business loans, credit cards, payroll, and mortgages. As per Bloomberg, Salinas’ fortune reached $2.8 billion this year to $15.8 billion.

Banco Azteca, which had annual revenue of $2.54 billion in 2020, operates in Mexico, Panama, Guatemala, Honduras, and Peru. The company, which began operating the bank in 2002, offers consumer credit for goods, personal and small business loans, credit cards, mortgages, and payroll systems.

According to the Bloomberg Billionaires Index, Salinas’ fortune has risen by $2.8 billion this year to tag $15.8 billion. The news reports show that Salinas said he invested 10% of his portfolio in BTC last year. He professed his support for the asset on multiple occasions. In 2020, the San Francisco-based exchange Kraken became the first crypto business to receive a charter to operate as a bank in the US after it got a license from Wyoming. In October, the Wyoming State Banking Board voted to grant financial institution Avanti a bank charter for crypto businesses.

Late last year, the Office of the Comptroller of the currency introduced a new charter allowing fintech firms to offer lending products without having to seek oversight from state banking regulators. Anchorage for example became the first crypto company to receive licensing under the charter in 2021.