GoldConnect, a telecommunications wholesaler in Latin America, announced on Tuesday that it will allow customers to pay for cryptocurrency through payment processor BitPay, which marks a new milestone in Bitcoin (BTC) adoption in the region.
Crypto payments can be made directly through LatamConnect, a platform that connects directly to BitPay. Crypto payments made through BitPay are made in local fiat currency.
GoldConnect said the adoption of cryptocurrency payments reflects the growing demand for such services in the 17 countries of Latin America and the Caribbean where they operate.
“As a leading communications provider in Latin America and the Caribbean, we must continually use the latest technology and business practices to enhance the experience and experience for our customers,” said Jeremy Villalobos, Chief Operating Officer, GoldConnect.
Sean Worley, VP of BitPay, added:
“GoldConnect recognizes the potential of cryptocurrencies to transform the wholesale telecommunications industry by making payments faster, more secure and cheaper on a global scale.”
Latin America has become a hub for cryptocurrency activity. El Salvador recently became the first country in the world to recognize Bitcoin as a legal tender, paving the way for massive adoption in the region. Political representatives from several countries, including Brazil and Panama, have also shown interest in accepting bitcoins.
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As reported by Cointelegraph, Bitso recently became the first billion-dollar cryptocurrency exchange in Latin America. It took Bitso six years to attract 1 million users and another 10 months to register 2 million users, highlighting the steep increase during the beef market 2020-2021.