Fresh Takes on Cryptocurrency Payments
This past week in the Spanish-speaking world was nothing short of exciting, with major strides made in the realm of cryptocurrency adoption. A standout story comes from Spain, where a company named Eurocoinpay launched an app that allows users to make payments using a variety of cryptocurrencies. CEO Herminio Fernández shared that the app is compatible with both Android and Apple devices and can be used in a plethora of retail settings, from restaurants to supermarkets. Talk about quick wallet access!
The Petro’s Growing Presence in Venezuela
In a not-so-shocking announcement that was both puzzling and curious, the Venezuelan government claimed that over 7 million people are reportedly saving in Petro. Joselit Ramirez, the Superintendent of Cryptoactives, echoed this during a radio program, promoting the so-called “Petro Savings Plan”. With a staggering 12 million reported operations conducted using Petro, one can’t help but raise an eyebrow. Ramirez assured listeners that the currency couldn’t depreciate—”guaranteed”—which is somewhat reminiscent of a magician’s trick; you know something’s there, but you just can’t quite see how.
PayPal’s Dance With Regulations in Mexico
Meanwhile, in Mexico, PayPal is also strutting its stuff in an effort to adapt to changing regulations. As the deadline for the nation’s Fintech Law looms, the payment giant plans to outlaw the storage of balances in users’ accounts. This move is seemingly a crafty way to sidestep being categorized as a payment processing company subject to the Fintech Law. Talk about a corporate tango!
Pharmacies Embracing Crypto for the Greater Good
Just when you thought only tech-savvy companies were on the crypto train, a familiar name in Venezuelan retail, Farmarato, has jumped on board. They’ve recently announced that they will accept cryptocurrencies like Bitcoin, Dash, Litecoin, and Binance Coin—surely benefitting not just their bottom line but also families in need. Javier Rojo from Farmarato even suggested that expatriates can now send money home to support loved ones in need of medicine, directly via cryptocurrencies. Who says pharmacies can’t innovate?
Wrap-Up of Crypto News
The developments in the Spanish-speaking world this week illustrate a fascinating blend of skepticism, optimism, and innovation in the crypto space. While the claims surrounding Petro raise eyebrows, the adoption of cryptocurrencies for practical purposes is undeniably on the rise. So, whether you’re loading up your Eurocoinpay app in Madrid or making a donation for medicine in Venezuela, the future of finance seems to be leaning heavily towards digital currencies.
