Latin American Telecommunications Company Accepts Encrypted Payments Through BitPay

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GoldConnect, a Latin American telecommunications wholesaler, announced on Tuesday that it will allow customers to pay with cryptocurrencies through the BitPay payment processor, marking another milestone in the adoption of Bitcoin (BTC) by the region.

Crypto payments can be made directly through LatamConnect, a platform that connects directly to BitPay. Crypto payments made through BitPay are settled in local fiat currency.

GoldConnect said its adoption of crypto payments reflects the growing demand for such services in the 17 Latin American and Caribbean countries in which it operates.

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“As a disruptive telecommunications provider in the LATAM region, we must continually adopt the latest technology and business methods to improve the interaction and experience for our customers,” said Jeremy Villalobos, COO of GoldConnect.

Shaun Worley, vice president of BitPay, added:

“GoldConnect realizes the potential of crypto to transform the wholesale telecommunications industry, making payments faster, safer and cheaper globally.”

Latin America is emerging as a hotbed for cryptocurrency activity. Recently, El Salvador became the first country in the world to recognize Bitcoin as legal tender, paving the way for mass adoption in the region. Political representatives from several countries, including Brazil and Panama, have also expressed interest in adopting Bitcoin.

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As UKTN reported, Bitso recently became the first billion dollar cryptocurrency exchange in Latin America. It took six years for Bitso to attract 1 million users and an additional 10 months to register 2 million, highlighting the steep adoption curve during the 2020-2021 bull market.