Canada’s Bitcoin-only trading platform, Bull Bitcoin, is setting its sights on Costa Rica’s rapidly growing cryptocurrency market. With SINPE Movil, the country’s leading fiat payment network, and Bitcoin Jungle, a homegrown digital wallet service, Bull Bitcoin aims to redefine how locals and international residents handle financial transactions.
Effective today, September 14, the platform will introduce a frictionless currency exchange feature, enabling the conversion of the Costa Rican Colón to Bitcoin and back. Additionally, the platform will facilitate quick and easy conversions between Colón and U.S. dollars to IBAN bank accounts, simplifying the transaction process for crypto aficionados and businesses.
The collaboration promises to accelerate Bitcoin adoption across Costa Rica by offering businesses a convenient way to convert their Bitcoin revenues into traditional currencies. This is expected to encourage more local enterprises to embrace Bitcoin payments.
This strategic move represents a significant milestone for Bull Bitcoin, which has served Canada’s 35-million-strong population for nearly 10 years. The company is now gearing up to extend its reach globally, with an ambitious goal of impacting over a billion lives within the coming year.
This expansion is pivotal in the crypto industry, as other major players like Binance are also vying for a share of the Latin American market. Binance has recently rolled out its “Send Cash” service, facilitating money transfers to multiple Latin American nations, including Costa Rica. Last month, the company also launched a new payment feature, allowing users in several Latin American countries to transfer funds to bank accounts in Colombia and Argentina directly.