What is the Mexican company that offers 16 billion dollars in cryptocurrencies for Citibanamex

Citibanamex could be valued at up to 15 billion dollars, according to Bank of America Securities (Photo: special)
Citibanamex could be valued at up to 15 billion dollars, according to Bank of America Securities (Photo: special)

After the president Andres Manuel Lopez Obrador (AMLO) expressed this Thursday, January 13, his desire to “Mexicanize” Citibanamex through its purchase by investors in the country, a company located in the city of Monterey, Nuevo León, has already raised its hand to acquire the assets of the bank owned by the American giant Citigroup.

This is the technology development firm Isatek, who through a statement offered for what is until today the third most important bank in the country the amount of 16 billion dollars, which would be paid in your Amero cryptocurrency.

In accordance with Alfonso Jimenez Perez, CEO of Isatek, his intention with the hypothetical transaction is create the first hybrid banking entity in Mexico.

“Expand the foray into the financial market of Isatek, promoter of Amero, the Mexican cryptocurrency backed by real estate for an amount of 60 billion dollars”

Alfonso Jiménez Pérez, executive director of Isatek (Photo: EFE)
Alfonso Jiménez Pérez, executive director of Isatek (Photo: EFE)

The businessman even recalled that now the Bank of Mexico (Banxico) is going to create its own cryptocurrency: “Globally, hybrid banks are forming and traditional banks are now into crypto.”

Jiménez Pérez pointed out that in financial circles there are versions of offers for “Banamex” between 13 billion and 14 billion dollars, so they are attentive to know “how much the amount for the purchase, in cryptocurrencies, of the financial institution would amount to”, whose assets for sale include branches, ATMs, buildings in the Historic Center, and of course, customer accounts: whether payroll, credit cards or mortgages, car and SMEs, as well as the business of the Retirement Funds Administrator (Afore) Y insurance.

It is worth mentioning that It is not the first time that Isatek has given something to talk about, since in January 2020 it offered 138 million dollars to the Mexican government to acquire the presidential plane, the Boeing 789-9 “José María Morelos y Pavón”.

Back then, the Isatek leader explained that the “Amero” can be exchanged like any other cryptocurrency through the exchanges (exchange houses) specialized both physical and virtual. However, it was not known if the offer was even analyzed by AMLO’s team and did not go beyond the note in the media.

Jiménez Pérez offered 138 million dollars to the Mexican Government to acquire the presidential plane (Photo: File)
Jiménez Pérez offered 138 million dollars to the Mexican Government to acquire the presidential plane (Photo: File)

Meanwhile, López Obrador mentioned that among the possible Mexican buyers of Citibanamex are Charles Slim, owner of Inbursa; Ricardo Salinas Pliego, owner of Banco Azteca; Carlos Hank Gonzalez, owner of Banorte; as well as the also Monterrey Jose Javier Garza Calderon, founder of the organization Entrepreneurs for the Fourth National Transformation.

On January 11, Citigroup reported that after two decades it will leave consumer banking in Mexico, as it did in several countries in Europe and Asia, as part of its new strategic vision.

Is a virtual currency that is created and stored electronically, which is not regulated by any government or has physical support, but is based on cryptography to provide security for transactions. That is to say, people can send you crypto (in this case “ameros”), to your digital wallet and you can do the same.

The greatest risk of completing this transaction is that the
The greatest risk of completing this transaction is that the “amero” is considerably devalued (Photo: Pixabay)

The advantage is that each transaction is registered in a payment certification system called “blockchain”, which allows to investigate the history of a cryptocurrency, in order to avoid theft, false copies or undo transactions.

Nowadays, there are about 1,500 cryptocurrencies on the market, bitcoin being the banner of others such as: Ethereum, Litecoin, Stellar or Eos, to name a few. The basic idea for its use is that be a means of payment for virtual transactions purchase any service or product.

KEEP READING:

What will happen to your money, debts and Afore if you are a Citibanamex client
Why the sale of Citibanamex could improve competition in the Mexican market
Citibanamex: the history of the National Bank of Mexico founded more than 135 years ago

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