GoldConnect, a Latin American telecom company will be able to process crypto transactions made in Bitcoin, Ether, and other digital assets through its new LatamConnect platform.
The Latin American telecommunications wholesaler announced that it will allow customers to pay with cryptocurrencies through payment processor BitPay, marking another important milestone in the region’s embrace of Bitcoin (BTC).
Crypto payments can be made directly through LatamConnect, a platform that connects directly with BitPay. Crypto payments made through BitPay are settled in local fiat currency.
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Why GoldConnect Embraced Crypto Payments
GoldConnect said its embrace of crypto payments reflects the growing demand for such services across the 17 Latin American and Caribbean countries in which it operates.
“As a disruptive telecom provider in the LATAM region, we must continuously embrace the latest technologies and business methods to improve the interaction and experience of our clients,” said Jeremy Villalobos, chief operating officer of GoldConnect.
Shaun Worley, vice president of BitPay, added:
“GoldConnect realizes the potential for crypto to transform the wholesale telecommunication industry, making payments faster, more secure, and less expensive on a global scale.”
Latin America is becoming a hotbed for cryptocurrency activity. Recently, El Salvador became the first country in the world to recognize Bitcoin as a legal tender, setting the stage for mass adoption in the region. Political representatives from several countries, including Brazil and Panama, have also expressed an interest in embracing Bitcoin.
As Cointelegraph reported, Bitso recently became Latin America’s first billion-dollar cryptocurrency exchange. It took Bitso six years to bring in 1 million users and another 10 months to register 2 million, highlighting the steep adoption curve during the 2020–2021 bull market.