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Latin American telecom firm GoldConnect partners with BitPay to accept crypto payments

GoldConnect’s decision to accept cryptocurrency payments reflects the growing demand for such payment options in the region.

Image by WorldSpectrum from Pixabay

Wed, 16 Jun 2021, 08:04 am UTC

Latin America has emerged as one of the global hotspots for crypto adoption. Just days after El Salvador granted Bitcoin (BTC) legal tender status in the country, a leading telecommunications provider in the region announced that it will now accept crypto payments.

GoldConnect announced on Tuesday that it is now accepting crypto payments through its LatamConnect platform. GoldConnect is a leading wholesale telecommunications provider in the region with a presence in 17 countries in Latin America and the Caribbean.

The crypto payment option was made possible through its partnership with BitPay. The payment processor is also known as the largest provider of Bitcoin and crypto payment services in the world.

“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,” GoldConnect COO Jeremy Villalobos said. “BitPay manages the entire payment process to securely receive crypto from the customer and deposit cash into our account.”

GoldConnect’s decision to accept cryptocurrency payments reflects the growing demand for such payment options in the region. With its partnership with Bitpay, GoldConnect aims to attract new customers while offering flexible and easy-to-use crypto payments.

There are also advantages to using BitPay’s business solutions. For instance, it reduces the payment processing cost, eliminates transaction fraud, and enables protected borderless payments.

“GoldConnect realizes the potential for crypto to transform the wholesale telecommunication industry, making payments faster, more secure, and less expensive on a global scale,” BitPay Vide President of Product Shaun Worley said. “Our goal at BitPay is to make accepting crypto a seamless process and increase adoption as crypto is the future of payments.”

Latin America has increasingly become a hotspot for cryptocurrency activity. For instance, El Salvador made headlines when it granted legal tender status to Bitcoin, a move that could set the stage for mass adoption of the crypto in the region, according to Cointelegraph.

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