Latin American Bitcoin exchange Bitex.la has partnered with Uruguay-based remittance company, More Money Transfers (MMT) to provide services in Argentina and Chile. So far the BTC exchange has 19 agents in Argentina and one in Chile who will now sell Bitcoin. It has access to robust banking and financial channels which let it ensure liquidity and fast availability.
A lot of market observers admit that Bitcoin can be an ideal solution provider for those who are unbanked in the emerging markets. To cater the requirements from such people, especially in Argentina and Chile, Bitex.la is trying every bit. The latest decision to place 19 agents in Argentina and one in Chile, who will now sell Bitcoin, is one such move towards that goal.
Nonetheless, Argentina’s high inflation and strict economic controls have led many to believe Bitcoin as currency and a payment network could succeed there. Talking about the move, a source from Bitex.la said that they were planning the branches for quite some time as it realized there is plenty of scope for Bitcoin in Argentina.
He informs that the exchange currently allows people in numerous Latin American countries to buy Bitcoin, but that requires a bank account. However, the new retail stores allow Argentina’s and Chile’s unbanked population to buy Bitcoin with cash. Bitex.la signed an exclusive agreement to use More Money Transfers’ large agent network in Latin America.
Nonetheless, More Money Transfers has agents in more than 13 Latin America countries and partners around the world; thus, with the help of these, Bitex.la will be able to cater the requirements from its customers well. Customers interested in buying Bitcoin will first need to create a Bitex.la account online and go through the know-your-customer process.
Buy and Sell Bitcoin Online
The company further informs that once the account is activated, the customers can go to one of the More Money Transfers branches with a valid ID and pesos and within fifteen minutes USD will be credited to their account. Once the money is deposited, they can buy Bitcoin online. This is not just simple but safe as well.
According to the company source currently there are More Money Transfers offices in Chile’s capital, Santiago, and in numerous Argentinean cities, including 12 in the nation’s capital, Buenos Aires. Thus, with the cooperation from MMT, Bitex.la will expand to all of Latin America and that the service will be expanded to Uruguay, Peru and Brazil in the coming weeks.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org