Japanese Crypto Exchange Bitpoint Expands To Panama

Announcements, News | December 13, 2018 By:

Japanese cryptocurrency exchange Bitpoint has expanded its services to Latin America by launching a crypto-to-fiat trading platform in Panama.

Bitpoint is a subsidiary of electric services company Remixpoint, which has a market value of about $189 million. Headquartered in Tokyo, Bitpoint is one of 16 exchanges licensed by Japan’s Financial Services Agency (FSA). The exchange currently supports bitcoin (BTC), ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP) and Litecoin (LTC).

Bitpoint said in its announcement that its crypto-to-fiat trading platform in Panama will offer USD pairs with all the cryotocurrencies listed above. The platform will utilize Panama ACH bank wires for fiat deposits and withdrawals for verified users. The company claims that the pltform offers “deep liquidity for speedy clearing.”

“We are proud to announce our market entry in Panama — The formalization of the crypto asset trading sector together with local authorities is a key milestone for its sustainable development,” said Genki Oda, president of Bitpoint. “In Panama we will employ our knowledge and standards to the satisfaction and tranquility of the local banking industry whom we regard as our partners.”

Earlier this year, Bitpoint partnered with Peach Aviation to allow the airline to accept bitcoin payments for plane tickets. BITPoint also partnered with a large retail group to bring crypto payments to retailers across Japan.