Latin America has arisen as one of the worldwide focal points for crypto selection. Only days after El Salvador allowed Bitcoin (BTC) to receive lawful status in the country, a main media communications supplier in the country reported that it will presently acknowledge digital currency payments. While this was to be expected, Jason Simon, an expert in cryptocurrency and FinTech, explains why the move is important.
GoldConnect reported that has partnered with BitPay to accept cryptocurrency payments through its LatamConnect platform. GoldConnect is a main discount media communications supplier in Latin America and the Caribbean, with a presence in 17 countries. It provides network solutions, cloud connection, network security and data center services in more than 33 countries in the region. Bitpay is the largest supplier of Bitcoin and cryptocurrency payment services across the globe, making the partnership between two experienced entities the perfect solution.
Explains Simon, “GoldConnect’s choice to acknowledge cryptocurrency payments mirrors the developing interest for such choices in the Latin American region, as well as the world. With its association with Bitpay, GoldConnect plans to draw in new clients while offering adaptable and efficient cryptocurrency payments.” There are additional benefits to utilizing BitPay’s business arrangements; for example, it reduces payment handling costs, cuts transaction fraud and empowers secure borderless payments.
GoldConnect understands the potential for cryptocurrency to change the discount telecom industry, making installments quicker, safer and more affordable on a worldwide scale. BitPay has been expanding its operations around the world to make it easier for consumers to interact with cryptocurrency payment solutions, as well as to increase the adoption of digital currency as an alternative to fiat.
Latin America has progressively become a focal point for digital currency adoption and El Salvador is serving as an example of how easy it is. While the new laws regarding Bitcoin require businesses to accept cryptocurrency alongside fiat, GoldConnect’s initiative will force other companies to react quickly and follow in its footsteps. This will transform the country, as well as the Latin American region, into a digital currency hub more quickly than anywhere else in the world.