Panda Group's Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
Arley Lozano, founder of the cryptocurrency based startup Panda Group, recently explained how his firm is spreading cryptocurrency adoption throughout Colombia and Venezuela. Panda Group has deployed 10 hybrid cryptocurrency point-of-sale (PoS) terminals that also act as automated teller machines (ATM). Four of the machines are situated near the border of Venezuela, giving refugees from the country and Colombian citizens access to cryptocurrencies like BCH, DAI, and BTC.
Spreading Crypto Adoption Throughout Colombia and Into Venezuela
In January, news.Bitcoin.com reported on Panda Group installing a hybrid PoS terminal that also works as a digital currency dispensing automated teller machine (ATM). At the time the machine was dubbed the Exeler, but since then the product has been rebranded as Pandabtm. Panda Groups founder Arley Lozano said his team so far has installed 10 Pandabtms around Colombia and four machines are on the border of Venezuela in Cucuta city. The machines can be located on Coinatmradar.com and devices installed near the border are meant to help Venezuelan refugees who cross the Simon Bolivar International Bridge every day.
Simon Bolivar International Bridge.
Panda Group emphasized that the machines process VES (Venezuela soberanía bolívar ) and COP (Colombian pesos). The devices allow anyone to process payments through the Xpay.cash payment system, which provides users with the ability to avoid fiat currency volatility. The machines process sales using a digital asset like bitcoin cash (BCH) or visitors can also purchase coins from the Pandabtm. Lozano told news.Bitcoin.com that the company has 15,000 users and three new partnerships. Panda Group is collaborating with Cobru, Gracon, and Pagos Inteligentes. Panda Groups founder explained that the new alliances are meant to bolster true cryptocurrency adoption throughout Latin America.
Panda Groups Crypto Terminals Offer Venezuelans a Bridge to Economic ProsperityOpening Operations in Our Own House
In addition to the Pandabtm installations, Lozano said that Panda Groups trading platform Panda.exchange is now allowing all Colombians to deposit and withdraw COP. Accounts will be able to trade 113 different cryptocurrencies and tokens against the local tender. The founder said that this is the first time the door has opened in his country as the team, based in Colombia, have previously worked throughout Panama, Europe, and Portugal.