Bitpoint announces expansion into Panama

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Bitpoint, a Japanese cryptocurrency exchange, has launched a new crypto-to-fiat trading platform for Panama. This is the first country outside of Japan that Bitpoint has expanded to, and they have already launched a fully translated and adapted page to service the new market.

This announcement came on Thursday, and they noted that the system will use local ACH bank wires through an innovative system to allow Panamanians to make deposits and withdrawals directly to and from their bank accounts. They will launch with the same cryptocurrencies available in their Japanese exchange: Bitcoin Core (BTC), Ether (ETH), Bitcoin Cash (BCH), Ripple (XRP) and Litecoin (LTC). These will be traded as USD pairs.

Genki Okada, president of Bitpoint, said, “We are proud to announce our market entry in Panama — The formalization of the crypto asset trading sector together with local authorities is a key milestone for its sustainable development.”

Careful not to step on the toes of local authorities or bankers, he went on to say, “In Panama we will employ our knowledge and standards to the satisfaction and tranquility of the local banking industry whom we regard as our partners.”

In 2017, Bitpoint was one of the original crypto exchanges to gain approval from Japanese authorities. They have also been keen to find practical applications for cryptocurrencies, with their rollout of payments for airport taxi’s using several digital currencies last month.  

With an eye at the practical uses of digital money, and a desire to expand and increase adoption, it seems Bitpoint would be a natural partner for Bitcoin SV (BSV). As the only currency that scales massively, is ready for the future and now, and can guarantee fast and cheap transactions, BSV is a natural fit for the applications Bitpoint is moving towards.

At the moment, Bitpoint is not offering BSV as one of its trading pairs or payment options; however, either due to mass demand or clear utility, it’s just a matter of time before they see the need for it on their platform.