Cryptocurrency peer-to-peer marketplace Paxful already has an established presence in South America and is looking to make it easier for users to be able to take advantage of their digital currency holdings. The company has announced that it has entered into a partnership with CoinLogiq, a blockchain company out of Colombia, to begin to install crypto ATMs in the country, as well as Peru.
The new agreement will see 20 crypto ATMs begin to pop up in cities like Bogota and Medellin, among others, in Colombia. Later, Peru will welcome 25 ATMs at various locations across the country. The goal is to make it easier for crypto fans to interact with their digital currencies and for Paxful and CoinLogiq to provide them with a solution that’s always within reach to make that possible.
Users will be able to withdraw digital currencies from the ATMs, as well as buy crypto using gift cards, online transfers, cash and plastic. Previous surveys have shown that a large majority of Colombians – over 85% – are familiar with crypto and almost as much is interested in making purchases of digital currencies.
Paxful’s co-founder and CEO, Ray Youssef, explains, “Latin America has real heroes in the CoinLogiq crew. They genuinely care and are focused on real use cases. This is what makes bitcoin real and a part of people’s daily lives. We are proud to work with them.”
CoinLogiq sees the new partnership as a tremendous step forward for crypto adoption, as well as both companies. Dwayne Golden, Sr., CoinLogiq’s CEO, asserts, “I am now even more convinced that mass adoption will not happen without the influence of the kind of synergy that can now exist as a result of this Paxful and CoinLogiq joint venture.”
As interest continues to rise in countries like these, as well as Brazil, Argentina and Venezuela, it is becoming more evident that crypto is becoming as important, if not more so, than fiat.
Paxful has been one of the most active companies in helping to realize the true potential of digital currency. It has launched several endeavors to put crypto in the hands of the unbanked and has also teamed up with The White Company to offer a crypto-based debit card. It is determined to see crypto achieve global acceptance, and the introduction of ATMs in South America is going to go a long way toward making that happen.
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