Bull Bitcoin Forms Partnership to Enable Bitcoin Conversion in Costa Rica
Summary:
Bull Bitcoin, a Canadian exchange, has partnered with SINPE Movil and Bitcoin Jungle to allow citizens and foreigners in Costa Rica to convert their local currency to Bitcoin. The exchange aims to expand internationally and provide a convenient way for merchants to cash out Bitcoin. Binance has also launched a similar product in Latin America, enabling users to send money to bank accounts in Colombia and Argentina.
Bull Bitcoin, a Bitcoin exchange based in Canada, has established a partnership with SINPE Movil, Costa Rica's primary fiat payments system, and Bitcoin Jungle, a local crypto wallet solution. The collaboration allows both Costa Rican citizens and foreigners to convert their local currency, Colones, to Bitcoin and vice versa. Bull Bitcoin also enables conversion to and from bank accounts (IBAN) in Colones and USD via regular bank transfers. Transactions will be facilitated through the Bitcoin Jungle wallet, with users sending fiat money to Bull Bitcoin via SINPE Movil and receiving BTC in their Bitcoin Jungle accounts. This development is expected to provide merchants with a more efficient way to convert Bitcoin to fiat currency and boost confidence in accepting Bitcoin payments. Bull Bitcoin views its entry into the Costa Rican market as the official beginning of its international expansion, aiming to reach over a billion people worldwide in the next year. This move aligns with the recent launch of Binance's "Send Cash" product, which covers various Latin American countries. Additionally, Binance Pay now enables users from seven countries to send money to recipients with bank accounts in Colombia and Argentina.
Published At
9/14/2023 9:15:55 AM
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