Canadian cryptocurrency exchange partners with Costa Rican payments system

Canadian cryptocurrency exchange partners with Costa Rican payments system

Costa Rica’s SINPE system is now going to facilitate the purchase of crypto on the exchange

Bull Bitcoin has partnered with Costa Rican flat payment system SINPE Movil and local crypto wallet solution Bitcoin Jungle. The Canada-based non-custodial Bitcoin-only exchange released a statement on September 14 saying that Costa Rican citizens and “foreigners” will be able to exchange local currency from Colones to Bitcoin and vice versa. Bull Bitcoin will also permit users to transfer funds to and from their bank accounts (IBAN) in Colones and USD using standard bank transfers.

The Bull Bitcoin exchange will operate via the Bitcoin Jungle crypto wallet, where users can buy Bitcoin by sending fiat funds to Bull Bitcoin via SINPE Movil and receiving BTC in their Bitcoin Jungle wallets. Bull Bitcoin stresses that it will be “possible for merchants to quickly and effectively ‘cash out’ their Bitcoin for fiat currency and increases their confidence in accepting Bitcoin payments.”

Bull Bitcoin states that entering the Costa Rican market “officially kicks off” the company’s international expansion. Bull Bitcoin is pushing to become available to “over a billion people worldwide” in the next 12 months after “almost 10 years of being available only in Canada and serving a market of 35 million individuals.”

Costa Rica is part of the Latin American market for Binance’s recently launched “Send Cash” product. Binance also announced the launch of a new crypto-to-bank account payment solution for the region in August, where users from Guatemala, Honduras, Costa Rica, the Dominican Republic, Paraguay, Panama and Mexico can send money using Binance Pay to recipients in Colombia and Argentina via their bank accounts.

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