The largest bank in El Salvador is now accepting Bitcoin as a means of payment for financial products -
The largest bank in El Salvador is now accepting Bitcoin as a means of payment for financial products -
Bancoagricola, the largest bank in El Salvador, now accepts Bitcoin to pay debts that have arisen from the use of their instruments. The institution has teamed up with Flexa, a payment network, to include cryptocurrency functions in its software. Bancoagricola also enables dealers who use Wompi services (a digital payment processor) to obtain Bitcoin for sold goods and services.
Bancoagricola hug Bitcoin
Bancoagricola, the largest financial institution in El Salvador, was one of the first to included Financial instruments. This means that his customers will be able to pay for financial instruments (such as loans, mortgages and credit card debt) with Bitcoin, in compliance with the Bitcoin law .
Customers of the bank who use a digital payment gateway called Wompi can also receive payments in Bitcoin through this service. Carlos Mauricio Novoa, COO of Bancoagricola, said:
We are pleased to be the first financial institution in El Salvador that enables our customers to access Bitcoin across our entire range of financial products and improve financial inclusion.
The bank also announced that this year, Bitcoin payments through its POS terminals want to fully support.
Flexa partnership in El Salvador
To achieve this goal, Bancoagricola has teamed up with Flexa, a digital payment platform. This enabled the institution to easily integrate Bitcoin-related services into the platform. Flexa is integrated into the BancoAgricola POS network so that customers can receive bitcoin payments directly. Banks and other companies begin to include Bitcoin in their payment network in order to meet the status of the legal means of payment, which was approved for Bitcoin on June 9th.
Trevor Filter, the co -founder of Flexa, said:
The possibility of working with such innovative and first -class organizations such as Bancoagrícola and Grupo Bancolombia so that we can support millions of Salvadorians better payment technology in such a tangible and effective way is simply incredible.
BancoAplicola has more than 1,000 customer attention points across the country and employs more than 5,400 people for customers. The effects that this involvement can have on setting the debts of citizens are therefore important. It is expected that further banks will announce several deals in the coming days in order to accommodate customers in accordance with the announced law.
Despite all this movement around Bitcoin, most Salvadorians (seven out of ten) against The use as a legal means of payment according to a survey by the University Institute for Public opinion.
What do you think of the integration of Bitcoin services through Bancoagricola in El Salvador? Tell us in the comment area below.
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