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Contxto – Political instability does not prevent Bitex from pursuing bigger and better plans in Chile. Who knows, maybe they even like it? The Argentinian payment solution leveraging blockchain technology recently announced plans to expand regional operations with its western neighbor by the end of 2019.
“By next year, we see things accelerating,” said Manuel Beaudroit, Marketing Director of Bitex. His company has built a reputation around reliable international money transfers using blockchain and crypto technologies.
According to his conversation with BNamericas, Beudroit plans to launch two pilot projects with Chilean financial services players before 2020 arrives. Part of this effort also includes launching similar projects with four to six regional financial services companies over the course of 2020. of the coming year.
Essentially, the intention is to reduce friction in the regional financial sector.
International crypto money transfer
Today, Bitex runs operations in Argentina, Chile, Paraguay and Uruguay. Additionally, it is gearing up to launch in two new markets in the near future. Since its inception in 2014, the company has also developed a network of 55 payment partners in the region and beyond.
Concretely, the Argentinian crypto-exchange combines the blockchain and the Bitcoin to allow the easy transfer of funds. Thanks to this solution, the financial service provider guarantees low processing costs and minimal commissions.
In the end, it has become an undeniably useful resource for banks and small and medium-sized enterprises (SMEs), especially exporters.
Bitex sees an opportunity in Chile
Despite making his debut in Chile in April, Beaudroit says his company’s commitment to the country hasn’t changed. For example, while Chile is one of the most developed countries in the region, its national currency recently bottomed.
While Chileans continue to demand constitutional amendments, the executive still sees an opportunity. “Regardless of all the popular uprisings and protests, it seems to me that the opportunities are still there,” Beudroit said.
“We continue to believe there is an opportunity to provide better financial services to the Chilean public.”
For Beudroit, he also predicts that cryptocurrency adoption will see an upward trend. This is especially true with banks which have recently become increasingly interested in the sector.