Cryptobuyer in Latin America commercial banks to install the first bitcoin ATM
Latin American bitcoin assets of the company Cryptobuyer installed two bitcoin ATM in Panama City commercial bank.
With the Banismo bank headquarters in Panama City launched two bitcoin ATM machine, Cryptobuyer has become the world’s first bitcoin ATM installed in the commercial bank company places. Install the ATM in addition to bitcoin bitcoin transactions also support DASH.
Cryptobuyer is the number of aspiring plan, they will expand in Latin America, bitcoin ATM. Cryptobuyer announced in the recently concluded Panama Fintech Association, plans to open more than 20 additional bitcoin ATM in South america. Cryptobuyer CEO Jorge Luis Faris (JorgeLuisFaris) told the media that the company plans to “strengthen our leadership position in Panama, and then we will go through Costa Rica, Chile and Brazil are expanding, all these countries immigration rates are very high, but our main concern is that immigration and expensive remittance service.”
Fintech is sponsored by Panama’s second largest bank Banismo, JorgeFarias participated in a panel of experts to discuss bitcoin and block chain technology potential application in Latin america.
Cryptobuyer is one of many encryption, it hopes to become Latin America to promote the popularity of bitcoin pioneer. In 2015, many Latin American countries the remittance industry scale, about $70 billion, in addition to the 400 million insured, positive impact of widespread adoption of the bitcoin will be huge.
For many Latin Americans, the maximum utility of bitcoin is its ability to store value. After adjusting the new liberalism economic structure in 1980s and 1990s, the value of money in many Latin American countries. To live in countries like Argentina and Venezuela’s citizens, hyperinflation symptoms increased.
Argentina store boss every day pricing story is very common, which makes the basic purchase behavior continued to bring pressure to the merchants and customers. Argentina to limit its citizens or legal currency exchange currency from domestic currency outside ability, which makes bitcoin become the only alternative currency most Argentines can use.
Many Latinos to bitcoin to obtain its use value, for example, can store the value or the circulation of money. The application of the South American bitcoin is unlikely to lead to radical soaring prices, for example Chinese new markets, and in recent years, India and South korea. Therefore, by providing effective services bitcoin features, the South American Cryptobuyer company may obtain more profits, rather than through this way to promote speculative trading.
JorgeFarias stressed that governments need to develop loose regulations, to ensure that the whole of the South American mainland bitcoin business growth. “The global trend is looking for a simple but safe regulatory environment will not slow innovation. Panama, Chile and Brazil have to carry out this work, although the market is still very small, but it is important for start-ups and other actors to be controlled, rather than to die at birth.”