Arley Lozano, founding father of the cryptocurrency primarily based startup Panda Group, not too long ago defined how his agency is spreading cryptocurrency adoption all through Colombia and Venezuela. Panda Group has deployed 10 hybrid cryptocurrency point-of-sale (PoS) terminals that additionally act as automated teller machines (ATM). 4 of the machines are located close to the border of Venezuela, giving refugees from the nation and Colombian residents entry to cryptocurrencies like BCH, DAI, and BTC.

Additionally learn: South African Payment Gateway Drops BTC Over Fees and Network Congestion

Spreading Crypto Adoption All through Colombia and Into Venezuela

In January, reported on Panda Group putting in a hybrid PoS terminal that additionally works as a digital foreign money dishing out automated teller machine (ATM). On the time the machine was dubbed the “Exeler,” however since then the product has been rebranded as Pandabtm. Panda Group’s founder Arley Lozano stated his staff thus far has put in 10 Pandabtms round Colombia and 4 machines are on the border of Venezuela in Cucuta metropolis. The machines could be situated on and gadgets put in close to the border are supposed to assist Venezuelan refugees who cross the Simon Bolivar Worldwide Bridge every single day.

Panda Group’s Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
Simon Bolivar Worldwide Bridge.

Panda Group emphasised that the machines course of VES (Venezuela soberanía bolívar ) and COP (Colombian pesos). The gadgets enable anybody to course of funds by means of the fee system, which offers customers with the flexibility to keep away from fiat foreign money volatility. The machines course of gross sales utilizing a digital asset like bitcoin money (BCH) or guests may buy cash from the Pandabtm. Lozano advised that the corporate has 15,000 customers and three new partnerships. Panda Group is collaborating with Cobru, Gracon, and Pagos Inteligentes. Panda Group’s founder defined that the brand new alliances are supposed to bolster true cryptocurrency adoption all through Latin America.

Panda Group’s Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity

Opening Operations in Our Personal Home

Along with the Pandabtm installations, Lozano stated that Panda Group’s buying and selling platform is permitting all Colombians to deposit and withdraw COP. On July 15, accounts will be capable to commerce 113 totally different cryptocurrencies and tokens in opposition to the native tender. The founder stated that that is the primary time the door has opened in his nation because the staff, primarily based in Colombia, have beforehand labored all through Panama, Europe, and Portugal.

Panda Group’s Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
The founding father of the cryptocurrency primarily based startup Panda Group, Arley Lozano, exhibiting off a Pandabtm.

“Panda Group is a Colombian and Venezuelan firm that began its operations virtually three years in the past with the hope of opening our operations in Colombia and producing true Latin American adoption. Nevertheless, because of the slowness and fears we ended up working outdoors of Colombia, in areas like Panama and Portugal,” Lozano defined, including:

Now we come to open operations in our personal home and we hope that the Colombian authorities and the native banks see us as allies. Panda Group needs to encourage the true training of bitcoin and cryptocurrencies and heal the injuries brought on by Ponzis and pyramid schemes that plagued Colombia.

Panda Group’s Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
Pandabtm places.

Pushing the Orange Economic system to the Blockchain

Lozano insisted that Panda Group needs the nation’s residents to know what true blockchain innovation and cryptocurrency options are. He famous that the Panda staff is crammed with passionate and gifted people keen to work onerous for that objective. The Panda Group founder detailed that Latin America was an “orange economic system” crammed with cultural and artistic entrepreneurs. Between the Panda Group staff, the,, Pandabtm, and Xpay, his crew is able to take the “orange economic system to the blockchain stage.” Lozano commented additional:

We’ll assist all of the people who need to be taught what cryptocurrency know-how is or help them in shopping for their first digital foreign money utilizing one in every of our many providers the place you may buy BCH, BTC, and extra.

Panda Group’s Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
Pandabtm places located close to the Venezuelan border in line with

The demand for digital belongings in Colombia exceeds many different Latin American nations and the area is second to Brazil by way of adoption. Actually, Rodolfo Andragnes, govt director of NGO Bitcoin Argentina, defined that there’s clamor surrounding bitcoin and its “reputation has been spectacular contemplating that it’s been solely ten years and a whole bunch of recent cryptocurrencies have been created.” “Brazil, Argentina, Mexico, Venezuela, and Colombia are the nations with the best exercise and progress in using cryptocurrencies all through Latin America,” Andragnes said in June. “Colombia has nice potential and increasingly more individuals see the advantages of Bitcoin,” the NGO Bitcoin Argentina govt defined . Located in Bogata, Lozano agrees that Colombia is a power to be reckoned with in terms of digital asset utilization and general exercise in Latin America.

Panda Group’s Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
Cellular phone store proprietor exhibiting off his Pandabtm in La Parada mall.

One of many Pandabtm machines situated in Cucuta close to the Simon Bolivar International Bridge is geared toward serving to Venezuelan refugees escape the hardships of their stricken economic system. The 300-meter-long bridge spans the Táchira River which covers the Colombian and Venezuelan border. Cucuta is an entry level for a lot of Venezuelans searching for security from the nation’s financial disaster. The Simon Bolivar Worldwide Bridge sees a lot of foot traffic as Venezuelan president Nicolás Maduro closed the bridge to vehicular visitors.

“Hundreds of Venezuelans cross the bridge,” Lozano advised “No automobiles are allowed to cross the bridge and solely individuals can cross taking primary stuff like drugs, meals, and provides. They cross by means of to purchase meals and a few of them are crossing to succeed in Peru or Ecuador. They cross and generally keep a number of days — Some cross to work and return dwelling within the evening.”

Panda Group’s Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
A large number of Venezuela’s refugees cross by means of Cucuta, crossing the Simon Bolivar Worldwide Bridge.

The Pandabtm positioned throughout the Táchira River is in Villa del Rosario Metropolis which sees huge numbers of Venezuelan vacationers every day. Lozano is happy with the strides Panda Group has been making and concluded that the corporate’s objectives embrace growing cryptocurrency ease of use and spreading financial prosperity. The Panda Group founder added:

Our merchandise are designed in order that even our grandparents can use them and we’re all the time pondering of our Venezuelan brothers and sisters.

What do you concentrate on what Panda Group has been doing in Colombia and Venezuela? Tell us what you concentrate on this topic within the feedback part beneath.

Picture credit: Shutterstock, Pixabay, Arley Lozano,, and Panda Group.

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Tags on this story
adoption, Arley Lozano, ATM, BCH, bitcoin cash,,, colombia, Cryptocurrencies, DAI, Digital Assets, Ecuador, La Parada mall, Latin America, Nicolas Maduro, Panama, Panda Exchange, Panda Group, Pandabtm, Peru, Portugal, PoS Terminal, Simon Bolivar International Bridge, Táchira River, venezuelan, Venezuelans, Villa del Rosario City, Xpay

Jamie Redman

Jamie Redman is a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open supply code, and decentralized purposes. Redman has written hundreds of articles for concerning the disruptive protocols rising immediately.

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