Crypto adoption grows on the continent. The BITPoint exchange announced expansion plans for Latin America. Two Blockchain startups among the finalists at Fintech fair in Panama and other leading news of the crypto ecosystem and Blockchain.
This week among the most outstanding news of the Blockchain ecosystem in Latin America, in Colombia, the Latin American Blockchain Alliance proposed some improvements for the current bill that seeks to regulate the exchange services in the country.
Ripple expands to Brazil while the Mexican exchange Kapytal Exchange announced the launch of the first Initial Exchange Offer of the continent.
5,000 people exchange crypts in the Dominican Republic
During the tenth Anti-Banking Congress of Bancamérica, the compliance director of the BITPoint company, Julián Geovo, pointed out that around 5,000 people trade cryptocurrencies in the Dominican Republic. He also explained that in Latin America there is a great interest in cryptoactives.
During the event, different characters and entities discussed the different difficulties represented by digital currencies and their role in illicit activities. For his part, Geovo explained that the boom in technology in the Latin American continent could have three main reasons: the ease of sending remittances from one point to another at extremely low costs and very quickly. The value of cryptoactives is the same in all countries, and their opacity.
Meanwhile, the BITPoint exchange announced a new partnership with IdentityMind Global for compliance with user identity (KYC) and anti-laundering (AML) standards. BITPoint currently operates in Panama and Peru, but has plans to expand to other countries in the region.
Law for the use of Blockchain in public services in Brazil
Federal deputies from Brazil created a bill that plans to demand the use of Blockchain in the country’s public services sector.
Federal Congressman Tiago Mitraud presented to the House of Representatives a bill that makes mandatory the use of Blockchain in the applications of the Federal Government. According to the proposal, the distributive technology should be integrated into the digital provision of public services in public administration.
A measure that is part of the project for the construction of a digital government in the country. If approved, Brazil would become one of the pioneers in the world to include the Blockchain in its own legislation. And it would oblige the municipalities to develop strategies for use with technology.
Latin Blockchain startups among the finalists
The Global Fintech Challenge 2019, which will take place on June 19 in Panama, announced the 10 Fintech specialized startups that were finalists of the Venture Day. The event, which is organized by the City of Knowledge, IE University and Senacyt, seeks to promote the entrepreneurial spirit and innovation of Latin American companies.
Among the finalist initiatives are projects from Peru, Mexico, Panama, Colombia, Guatemala, Ecuador and Puerto Rico. Two startups that apply Blockchain solutions stood out among the finalists: 2Transfair, from Colombia and XChangeLatam, from Ecuador.
The Colombian initiative is a platform that offers Blockchain transactional core services. While the second is a platform that offers exchange services that include cryptocurrencies and other payment methods.
Also published on Medium.