Bull Bitcoin’s Costa Rican Expansion

Bull Bitcoin, a Bitcoin-only exchange headquartered in Canada, has partnered with SINPE Movil, Costa Rica’s primary fiat payments system, and Bitcoin Jungle, a local cryptocurrency wallet solution.

Both Costa Ricans and “foreigners” will be able to convert colones to Bitcoin and vice versa, according to a press release from Bull Bitcoin on September 14.

Bull Bitcoin will also facilitate the conversion to and from bank accounts (IBAN) in both Colombian and US dollars using standard bank transfers.

The exchange will operate via the Bitcoin Jungle wallet, with users purchasing Bitcoin by transferring fiat currency to Bull Bitcoin via SINPE Movil and receiving BTC in their Bitcoin Jungle accounts.

According to Bull Bitcoin, this will make it “possible for merchants to quickly and effectively “cash out” their Bitcoin in exchange for fiat currency, boosting their confidence in accepting Bitcoin payments.”

According to the corporation, entering the Costa Rican market “officially kicks off” its international expansion. Bull Bitcoin intends to become available to “over a billion people worldwide” within the next 12 months, after “nearly a decade of being available only in Canada and serving a market of 35 million individuals.”

Costa Rica is among the list of Latin America’s countries covered by Binance’s recently launched “Send Cash” product. The world’s largest cryptocurrency exchange announced in August the launch of a new crypto-to-bank account payment solution for the region.

Users from Honduras, Guatemala, Costa Rica, Paraguay, the Dominican Republic, Panama, and Mexico will be able to transfer funds to Colombia and Argentina via Binance Pay.