Home Crypto El Salvador’s Largest Bank Bancoagrícola Starts Offering Bitcoin Services to Customers

El Salvador’s Largest Bank Bancoagrícola Starts Offering Bitcoin Services to Customers

Bancoagrícola, the most important financial institution in El Salvador, has tapped Flexa pure-digital cost agency to allow Bitcoin transfers for the financial institution’s clients, together with retail and service provider purchasers.

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On Thursday, September 9, Flexa Bitcoin cost agency made an announcement that Bancoagrícola financial institution signed a take care of the cryptocurrency cost community to energy Bitcoin funds for the financial institution’s clients and service provider purchasers.

Through such a brand new integration, Bancoagrícola is now accepting Bitcoin throughout its community for funds in the direction of bank cards, loans, and service provider items and companies in compliance with the brand new “Bitcoin legislation” that took impact on September 7.

The transfer by Bancoagrícola comes at a time when Bitcoin becomes an official authorized tender in El Salvador.

Flexa not too long ago added assist for Lightning cost to allow its service provider purchasers to obtain funds in cellular apps, in shops (e.g. Google play retailer app), and on-line. In including assist for Lightning funds, Flexa permits retailers to obtain funds from extra Bitcoin holders than ever earlier than, together with customers of widespread lightning-enabled pockets apps like Chivo, Strike, Éclair, Breez, and BlueWallet.

As a end result, Bancoagrícola and Flexa have launched the primary kind of Bitcoin acceptance answer not solely in Latin America but in addition internationally.

Bancoagrícola clients can now use any Flexa- or Lightning-enabled wallets app to pay Bitcoin for US dollar-based loans and bank card funds on the precise truthful market fee, with none further charges.

Bancoagrícola retailers at present settle for funds by Wompi. Other cost strategies may allow Flexa-powered Bitcoin funds with no charges for end-customers and a assured zero fraud system.

Bancoagrícola account holders are suggested to obtain the newest model of the Bancoagrícola cellular app (Banca Movil) or go to the financial institution’s on-line platform to make funds with Bitcoin. Merchants in El Salvador who’re concerned about enabling Bitcoin funds are additionally inspired to open financial institution accounts with Bancoagrícola.

More Businesses Accepting Bitcoin

After El Salvador formally accepted Bitcoin as a authorized tender alongside the US greenback on September 7, a number of corporations more and more accepted cryptocurrency as a cost choice.  

Bancoagrícola financial institution is the newest to be part of the variety of rising companies accepting Bitcoin funds within the Central American nation.

On September 8, Food and drink franchises, together with Pizza Hut and Starbucks, started accepting Bitcoin funds from their clients in El Salvador.

Twitter customers additionally reported paying for breakfast at McDonald’s with Bitcoin on Tuesday, September 7, the primary day the cryptocurrency grew to become authorized tender in El Salvador.

Businesses are required to settle for Bitcoin in exchange for companies and items, although retailers who’re technologically unable to obtain the digital foreign money are exempted from the legislation.

Image supply: Shutterstock

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