Chile: 5,000 Businesses Are About To Accept Bitcoin, Ethereum, And Stellar

Chile: 5,000 Businesses Are About To Accept Bitcoin, Ethereum, And Stellar

July 30, 2018 0 By Austin Patel

CryptoMarket has created, a payment solution for local stores to start accepting BTC, ETH, and XLM by turning the payment into Chilean Pesos.

An Initiative Born Of Cooperativeness

The feat could not have been made possible without the joint effort with Flow.
Flow is a payment platform in Chile, which allows for the acquisition of different goods and services from over 5,000 affiliated stores.

The association between Flow and CryptoMKT has opened the doors for crypto payments in Chile in such a huge amount of business establishments located all around the country.

CryptoMKT was even eager to point out the joint effort between the two companies. They were quoted as stating that users will be able to access diverse goods and services at the number of stores available through

A Possible Competitor Against Japan

CryptoMKT has not been keeping quiet when it comes to praising the achievement made by the two firms.

The company was quoted in an interview with local newspaper Diario Financiero as saying that Chile is stepping up to the vanguard in payment possibilities, equating Japan, where you can acquire clothes, food, or even hotels by paying with Cryptocurrencies.

Even more so, the website is possibly looking to bring not only Chile and nearly the entirety of Latin America to the racetrack, but a whole worldwide crypto revolution.

The creators have plans to launch the platform outside of the Chilean nation, with the list of countries including Brazil, Argentina, and Europe.

The initiative is strengthened by the fact that CryptoMKT already has offices in said territories.


A Strong Setting Stone For The Spread Of Cryptocurrencies

Every attempt to make Cryptocurrencies more usable and mainstream is amazing news.

CryptoCompra is one a highly critical first step in Latin America for spreading the awareness of Cryptocurrencies as a strong and viable medium of exchange.

Something even more remarkable is that a quick browse around lets you see that there is a number of businesses that are already subscribed and accepting crypto payments through the portal. You can acquire courses and classes, access art and clothing stores, hire law firms, and even pay for paragliding rides! While the quantity of businesses affiliated is relatively small compared to the Flow user base, the number is bound to increase as the ease of using crypto coins becomes more apparent.

CryptoCompra is even promoting the platform, with Prestashop and Woocomerce extensions available through the website—Magento support is shown as “coming soon”.

The Importance Of Such Achievement

Today, the only factor that determines the acceptance of a currency is their use.
The main achievement required for the normalization and spread in the use of crypto coins is getting people to see them as useful. Every initiative or project that helps to make Cryptocurrencies more accessible as a payment method similar to fiat currencies is of the utmost importance.

Currencies are only as relevant as people see them. The more possibilities for them to be useful, the quicker they will become a regular part of our lives.