Cryptocurrency News

Latin American Telecommunications Company Accepts Crypto Payments Through BitPay

Latin American telecommunications wholesaler GoldConnect announced on Tuesday that it will allow customers to pay with cryptocurrencies through a payment processor bitpay, marking another important milestone in the field’s embrace of bitcoin (B T c)

Crypto payments can be made directly through LatmConnect, a platform that connects directly to Bitpay. Crypto payments made through Bitpay are settled in local fiat currency.

GoldConnect said the adoption of crypto payments reflects a growing demand for such services in the 17 Latin American and Caribbean countries in which it operates.

“As a disruptive telecommunications provider in the LATAM region, we must continually adopt the latest technologies and business practices to improve the interactions and experiences of our customers,” said Jeremy Villalobos, COO, GoldConnect.

Sean Varley, Vice President of BitPay, said:

“GoldConnect realizes the potential of crypto to transform the wholesale telecommunications industry while making payments faster, more secure and less expensive globally.”

Latin America is becoming a hotbed of cryptocurrency activity. Recently El Salvador has become the first country in the world Recognize bitcoin as legal tender, setting the stage for mass adoption in the region. Political representatives of many countries, Including Brazil and Panama have also expressed interest in adopting bitcoin.

related: Adopting the bitcoin standard? El Salvador inscribes itself in the history books.

As Cointelegraph reported, Bitso recently became Latin America’s First billion-dollar cryptocurrency exchange. Highlighting the steep adoption curve during the 2020-21 bull market, Bitso took six years to bring in 1 million users and 10 months to register 2 million.