Cryptobuyer Installs First Bitcoin ATMs in Latin American Commercial Bank

Cryptobuyer Has Ambitious Plans for Expanding the Presence of Its Bitcoin ATMs Across the Latin American Continent

Cryptobuyer has become the world’s first company to install bitcoin ATMs on the premises of a commercial bank, following the launch of two ATMs at Banismo Bank’s headquarters in Panama City. The installed bitcoin ATMs support DASH transactions in addition to Bitcoin.Cryptobuyer has ambitious plans for expanding the presence of their bitcoin ATMs across the Latin American continent, announcing its intention to open more than 20 additional bitcoin ATMs throughout South America at the recently-concluded Panamanian Association of Fintech event. Cryptobuyer CEO, Jorge Luis Faris, told news.bitcoin.com that the company plans to “consolidate our position as leaders in Panama, then we will go through Costa Rica, Chile, and Brazil, all these countries have high rates of immigration and old and expensive remittances services that are our main focus.”

The Fintech event was hosted by Banismo, the second largest bank in Panama, and featured Jorge Farias participating in an expert panel discussing the potential applications of bitcoin and blockchain technology throughout Latin America.

Cryptobuyer is one of many cryptocurrency companies hoping to be at the forefront of driving bitcoin adoption throughout Latin America. With many South American nations accounting for an enormous remittance industry of approximately $70 billion USD in 2015 in addition to housing 400 million underbanked citizens, the positive impacts that widespread bitcoin adoption could have across the continent would be enormous.