Anatomy of a USD 10 million USDC to MXN trade: where the money goes at every step
One order. Tuesday, 3:14pm, Mexico City. We follow it down a bank wire and down a stablecoin trade with Rio, minute by minute.
RESOURCES Blog
Notes on FX and the rails that move money across LatAm.
What we see on the desk, written down. How prices are formed, where the hours go, what each rail can and cannot do, and what a treasury can measure for itself.
The real cost of your MXN FX: three parts, the one no invoice shows, and when it pays to switch
Most treasuries cannot say, to the basis point, what they pay for pesos. Here is how to find out in two weeks, and how to decide whether the number is worth changing.
MXN liquidity by the hour: why Friday at 5pm costs more, and what a treasury can do about it
You can trade the peso at any hour. You cannot trade it well at any hour. The gap between those two sentences is a cost most treasuries pay every week without seeing it.
SPEI vs SPID: how pesos and dollars actually move inside Mexico, and where stablecoins fit
Mexico has one of the best instant-payment systems in the world for its own currency, and a much narrower one for dollars that most people outside Mexico have never heard of. What each does, what each cannot do, and how Rio plugs into both.
No posts on that topic yet. Clear the filter to see everything.