Coinbase announced a pilot program this week that will let Mexicans receive crypto transfers and then convert the balance into pesos by presenting a redemption code at more than 37,000 stores, which will be free of charge until March 31. To arrange the transfers, Coinbase has partnered with the money transfer service Remitly, which has relationships with Mexican retail outlets like Bansefi, BanCoppel, Oxxo, Sorina, and Telecomm Telegrafos.
"Customers today can already instantly send crypto to recipients in Mexico directly from their Coinbase app. Once sent, the recipient will receive a notification and can immediately view the crypto balance in their Coinbase account. ... If they choose to cash out any part of their balance, they can generate a redemption code from their Coinbase app that can be used to receive cash at 37,000 physical retail outlets and convenience stores located across Mexico."