Three months, in the past information.Bitcoin.com reported on Panda Change launching a hybrid point-of-sale (PoS) and cryptocurrency ATM in Bogotá, Colombia. Since then, the Panda workforce has additionally helped Athena Bitcoin set up a crypto ATM in Cúcuta, Colombia to function a crypto gateway for Venezuelans. On April 17, Panda introduced the set up of its second digital foreign money PoS terminal at Cúcuta’s hottest burger restaurant, Darwinos.
Additionally learn: Strong Evidence Suggests a Single Entity Mined More Than 1 Million Bitcoin
Panda Change Launches One other Exeler BTM in South America
Spreading cryptocurrency all through Latin America is a giant deal to the Panda Group workforce and the corporate’s founder Arley Lozano. Panda Group supplies cryptocurrency options globally and operates the buying and selling platform Panda Exchange. Final January, information.Bitcoin.com spoke with Lozano in regards to the hybrid PoS terminal and cryptocurrency ATM put in in Bogotá, at La Tortata candy store.
Panda calls the system the Xeler BTM and the terminal permits customers to purchase and promote cryptocurrencies, in addition to the flexibility to course of funds for merchandise bought with BCH, BTC, and DAI. This week, Lozano instructed our newsdesk in regards to the newest Xeler set up which happened in Cúcuta Colombia on the well-known burger store Darwinos. Lozano defined that Darwinos serves the most effective burgers in Cúcuta and the workforce noticed a great prove the day the Exeler was put in. Now customers should purchase meals and drinks with crypto and in addition buy digital belongings in trade for Colombian pesos.
Lozano and Panda are not any strangers to the Cúcuta area which could be very near the border of Venezuela. On March 18, Lozano and his workforce consulted the ATM firm Athena Bitcoin and helped them set up a cryptocurrency ATM within the metropolis of Cúcuta. Athena’s blog post says that Panda Change was chargeable for coordinating the logistics for the set up of the Athena ATM. Each groups hope that the ATM serves as a cryptocurrency gateway for not solely native residents but in addition bordering Venezuelans as nicely.
Cúcuta, in any other case often called San Jose de Cúcuta, is a metropolitan space that borders the economically stricken nation of Venezuela. Because the financial hardships and civil unrest below Maduro’s authoritarian regime, many Venezuelans have sought refuge in Cúcuta. Town has acted as a hub of commerce within the Norte de Santander area and this is the reason Athena Bitcoin and Panda Change have been making strides on this space.
Spreading Cryptocurrency Accessibility to the Unbanked in Colombia and Venezuela
The Darwinos set up is now the second transportable cryptocurrency terminal in Colombia and Lozano tells our publication that the workforce hopes to have about 100 of those units distributed all through Colombia and Venezuela by the 12 months’s finish. Roughly 20 of these units will probably be put in within the area at a widely known chain of pharmacies. The corporate additionally detailed that there’s no regulatory pointers in the meanwhile in Colombia that require customers to declare taxes after they use the Xeler BTM. There’s a minimal of about US$15 price of crypto that may be bought and Panda does take a small fee from digital foreign money purchases and PoS transactions. Additional, the Xeler has an built-in KYC system which requires the consumer to confirm their id for ATM transactions and a single document is made per consumer. Panda built-in the Xpay payment processor with Xeler which permits retailers to course of funds with cryptocurrencies.
Lozano and Panda imagine that spreading peer-to-peer digital currencies all through the area will assist financial freedom flourish for individuals who want it most. Not solely does the most recent terminal present extra accessibility to bordering Venezuelans in search of refuge in Cúcuta, the machine additionally helps locals a fantastic deal. The corporate instructed information.Bitcoin.com that roughly 55% of Colombians are unbanked, so the Exeler PoS terminal and crypto ATM resolution is targeted on shopping for and promoting digital belongings with Colombian pesos.
“At Panda Group we’re completely satisfied to unfold cryptocurrency adoption in Cúcuta and it’s additionally my hometown,” Lozano burdened. “Furthermore, many Panda workforce members have a coronary heart and soul for our family and friends in Venezuela — Deploying Xeler with our Xpay resolution will assist our brothers and sisters be capable to purchase cryptocurrencies direct throughout these exhausting financial occasions.” The Panda Group founder concluded:
Our subsequent plan is to deploy extra Xeler terminals and Xpay all through quite a lot of supermarkets and pharmacies. Panda Group was born to assist our brothers and sisters with crypto options and supply accessibility to actual individuals.
What do you concentrate on Panda Change launching one other Exeler terminal in Cúcuta Colombia? Tell us what you concentrate on this venture within the feedback part under.
Picture credit: Shutterstock, Panda Change, Athena Bitcoin ATM emblem, Arley Lozano, and Darwinos.
Not updated on the information? Take heed to This Week in Bitcoin, a podcast up to date every Friday.