Buy Bitcoin in Colombia. A leading bank technology provider in Latin America is partnering with cryptocurrency exchange Bitex to facilitate cross-border payments over the bitcoin blockchain. Coinmama Popular. Airtm Popular.
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A leading bank technology provider in Buy bitcoin in latin america America is partnering with cryptocurrency exchange Bitex to facilitate cross-border ameruca over the bitcoin blockchain.
Bantotal is a core banking service provider based in Uruguay that services over 60 different financial institutions across 14 different countries. The partnership means that Bantotal clients will be able to access Bitex services in a marketplace of other traditional financial services that Bantotal offers through its BDevelopers program. The partnership in the eyes of competitors such as Stellar, which also specializes in cross-border payments leveraging its own blockchain network, is seen as a positive signal.
Bitex essentially acts as a middleman for national and regional bltcoin to convert fiat payments into bitcoin then back into fiat, as opposed to completing multiple fiat-to-fiat conversions.
Normally, this process of transferring money across borders with local banks in Latin American can take anywhere from 48 to 96 hours depending on the specific bank branch and financial intermediaries used, according to Leo Elduayen, vice president of non-profit Bitcoin Argentina and founder of blockchain startup Koibanx. Elduayen described the full process of cross-border payments using Bitex as an amreica solution for banks, saying:. You as a user just send the money and Bitex takes care of the rest for you.
To this, Olivera said that both know-your-customer KYC and anti-money laundering AML legislation is still a major issue for banks when it comes to using the bitcoin blockchain. At the very least, both Ast and Olivera see this partnership between Bantotal and Bitex as an opportunity to expose consumers in Latin American to the benefits of blockchain technology and help rebuild consumer trust in existing financial institutions.
In this way, Santiago Siri, founder of digital governance startup Democracy Earth and advisor to Bitex, said the work of Bitex went far beyond simply being a crypto exchange platform. Peruvian dance image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
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Flori Marquez (BlockFi Co-Founder) — Latin American Bitcoin & Blockchain Conference 2019
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Elduayen described the full process of cross-border payments using Bitckin as an end-to-end solution for banks, saying:. The partnership means that Bjtcoin clients will be able to access Bitex services in a marketplace of other traditional financial services that Bantotal offers through its BDevelopers program. We may receive compensation when you use LocalBitcoins. Every visitor to Buy Bitcoin Worldwide should consult a professional financial advisor before engaging in such practices. Wall of Coins Popular. Exchanges happen almost instantly because Changelly never actually controls your tokens americs just exchanges. Bitcoin ATMs can be latni quick and easy way to buy bitcoins and they’re also private. You can fund your exchange account using online buy bitcoin in latin america transfer in all four countries. We may receive compensation when you use Coinmama. Airtm offers a peer community. Any such advice should be sought independently of visiting Buy Bitcoin Worldwide. The most common method of payment for purchase is cash deposit. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisors, or hold any relevant distinction or title with respect to investing. Coinmama allows customers in almost every country to buy bitcoin with a credit or debit card.
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