Ditobanx and ICP Hub Mexico recently partnered to launch an initiative promoting the use of cryptocurrencies at Mexican universities. As part of this program, over 4,000 students received $5.42 (100 pesos) worth of Ckbtc, the so-called bitcoin twin, to use at campus cafes, restaurants, and copy shops.
Boosting Cryptocurrency Usage at Mexican Universities
Salvadoran fintech firm Ditobanx has partnered with the Internet Computer Protocol (ICP) Hub to promote cryptocurrency payments at a Mexican university complex. The initiative reportedly aims to boost cryptocurrency use and adoption in Mexico.
The alliance between Ditobanx and ICP Hub Mexico will enable students at Aguascalientes institutions to use Ckbtc for payments. Built on the ICP blockchain, Ckbtc is said to combine Bitcoin’s security and trust with a modern blockchain’s speed and efficiency. The ICP website describes Ckbtc as a multi-chain Bitcoin twin that can be sent or received in two seconds with minimal fees.
To kickstart the initiative, over 4,000 students received $5.42 (100 pesos) in Ckbtc. Students can use this cryptocurrency at campus cafes, restaurants, and copy shops. Beyond introducing students to cryptocurrencies, the Ditobanx and ICP Hub Mexico solution aims to provide financial inclusion.
Initially targeting Aguascalientes universities, the pilot program will expand to institutions in Bajío and Mexico City.
Launched April 3, 2023, by the Dfinity Foundation, Ckbtc is said to be backed 1-to-1 by bitcoin, which supporters say makes it more substantially secure than wrapped tokens. Because it enables fast and cheap transactions, proponents claim it is better suited for decentralized commerce, thus reducing risks associated with third-party custodians.
Do you agree that Ckbtc is better suited for decentralized commerce? Share your opinion in the comments section below.