Crypto payments breakthrough in Chile

Shoppers in Chile can now buy products and services with cryptocurrency from over 5,000 merchants.

Cryptocurrency exchange Crypto MKT has partnered with online payments platform Flow.cl, enabling merchants to add this option through the CryptoCompra.com platform.

This is available in Chile, Argentina, Brazil and Europe, and lets customers pay businesses in Bitcoin, Stellar and Ethereum. Merchants receive payments in their local fiat currency.

According to a press release issued by Crypto MKT:“There is a guarantee fund that allows payments not to be affected by large increases or decreases in the price of Bitcoin, Ethereum and Stellar. This gives tranquillity and security to the client, as there will not be surprises in their payments.”

Changing times

The announcement is of particular interest given that Chile previously considered a blanket ban on the crypto industry. Chilean banks went so far as shutting down the accounts of major exchanges such as Crypto MKT, Buda and Orionx.