On Tuesday, news broke that expanded the utility of cryptocurrency-related rewards and payments in Latin America and Europe.
foldwhich offers bitcoin rewards and free bitcoin purchases through payment partnerships, placed Opening of a local office in El Salvador marks its entry into Latin America. Notably, El Salvador is the first country in the world to use Bitcoin as legal tender.
Meanwhile, in Europe, Earnings Application— A digital wealth platform that claims to be able to “securely earn passive income from your digital assets with the click of a button” —are cooperating and volt, a real-time payments network based in London. By integrating Volt’s pan-European open banking solution, Yield App customers can purchase cryptocurrencies directly with their banks in real-time.
fold into el salvador
savior adopt bitcoin Become legal tender in September 2021, becoming the first country to do so.The move sparked widespread repercussions, with critics pointing to Bitcoin’s instability and environmental impactamong others.
Bitcoin transaction fees — the cost to miners of processing and confirming transactions — have risen sharply recently, causing pain to Salvadorans who use the currency.As of Monday, transaction fees Average $4.67 A week ago, the average cost was $30.91
Despite these challenges, Fold, which has handled more than $1 billion in transaction volume, sees its foray into the market as confidence in the long-term growth of cryptocurrencies in Latin America. The region has a large population without access to traditional banks.
“We are excited to have an office and local team in El Salvador,” will reevesFold’s CEO said in a statement Statement issued by the company“As a country that accepts Bitcoin and has been a pioneer in adopting new monetary technologies, we believe El Salvador is the perfect place for Fold to expand its presence in Latin America.”
Yield App in Europe
The partnership between Yield App and Volt provides additional access to the solution for users trading in GBP and EUR. The use of open banking technology helps in combining forces to provide customers with an enhanced digital payment experience.
“It is time for the industry to embrace open banking solutions so retail cryptocurrency investors are not left out in the cold,” Gro PiskoffYield App’s cards and payments manager said in a prepared statement. “As champions of the latest payment technology, we are delighted to partner with Volt to provide our customers with fast, secure and seamless transactions directly from their banking app.”