Coincoinx, a cryptocurrency exchange will launch a service that allows users to stop trading crypto to receive fiat for payments in Venezuela. Coinpago is a service that will allow users to pay in any store or retailer that accepts Pagomovil. This banking service allows seamless fiat transfers among banks within the country.
Although cryptocurrency is becoming mainstream and more common in many places around the globe, many service providers and retailers still refuse to accept cryptocurrency as a payment method. Services that combine crypto and traditional bank-based payment are becoming more popular and offer functionality for crypto users. Coincoinx, Venezuela’s cryptocurrency exchange, announced the launch a service that will combine fiat and crypto for traditional payments.
Coinpago is a service that allows customers to use their cryptocurrency to make fiat payments. Customers can also bypass trading and make payments wherever they are. Coinpago will allow users to skip the exchange phase, and offer them the option of using the Pagomovil service. This allows people to pay anywhere that this type of bank-based payment method can be accepted.
Payments Scene
Although the use of the dollar was prohibited in Venezuela in the past, the situation has changed in recent years. The dollar now occupies a prominent spot in the international payments landscape of the country. The introduction of the cryptocurrency tax and foreign fiat has allowed the native fiat currency to regain a prominent spot in payments. This adds 3% on any payment made using these currencies.
This has decreased cryptocurrency payments and people are being persuaded to pay with fiat. Coincoinx is currently in beta and aims to solve the problem with the proposed service. It will allow foreigners to use fiat to pay for their family’s purchases. This can also be used to replace remittances.
Leonardo Galindez is the CEO of the exchange. was.
This tool is designed to make people’s lives easier. If you have a Spanish relative who has opened a CoinCoinX account with funds in bitcoin or tether, they can instantly make a pago moveil.
