Bitcoin ATM installed in Mexico’s Senate building

Mexico’s Senate building is now home to the country’s 14th Bitcoin (BTC) ATM, a sign of the country’s increasing interest in Bitcoin. The ATM was installed on Tuesday with the support of several lawmakers, including Miguel Angel Mancera, leader of the Parliamentary Group of the Democratic Revolutionary Party (PRD).

Senator and outspoken crypto enthusiast Indira Kempis shared her excitement about the development on Twitter, declaring that “for freedom, inclusion and financial literacy in Mexico.”

According to Coin ATM Radar data, the country already had 13 such ATMs in Mexico City, Tijuana, Cancún, Guadalajara, Culiacán, San Miguel de Cozumel and Aguascalientes.

Following the installation of the BTC ATM, a local news report from El Heraldo de Mexico stated that the PRD representative noted that Bitcoin had already surpassed the transaction volume of payments made through traditional payment systems such as PayPal, Visa and MasterCard.

Related: The Brazilian Senate approves the “Bitcoin Law” regulating cryptocurrencies

Mexico’s interest in cryptocurrency has gained momentum in recent months. According to Triple A’s 2021 crypto ownership data, 40% of Mexican companies are interested in adopting blockchain and cryptocurrency in some way. 71% of this group are focused on using cryptocurrencies.

Additionally, the information shows that Mexico’s largest cryptocurrency exchange, Bitso, saw a 342 percent increase in trading volume in 2020. The exchange also has over 1 million users (92% are Mexican).

As Cointelegraph reported, Nuevo León State Senator Indira Kempis stated in February that she is confident Bitcoin should be a legal currency in Mexico because its use can help expand financial inclusion around the world. However, billionaire and bitcoin proponent Ricardo Salinas believes it will be an “uphill battle” to achieve this because his nation’s mentality is too dependent on its fiat control, which he called a “fiat scam.”