Share this article
Mexican Retailer Famsa Integrates Bitcoin
Another Latin American e-tailer, Famsa, is now accepting bitcoin for online purchases.
By Grace Caffyn
Updated Sep 11, 2021, 11:56 a.m. Published Oct 13, 2015, 10:44 a.m. 1 min read
UPDATE (14th October 10:26 BST): Comments added from Alberto Vega, BitPay's Regional Manager for Latin America.
Latin American e-tailer Famsa is now accepting bitcoin for online purchases.
The chain, founded in 1970, sells a variety of consumer goods and electronics across Mexico and the US. It is processing transactions via Atlanta firm BitPay.
The news follows last month's announcement from MercadoLibre – the 'eBay of Latin America' – that it would integrate bitcoin, and a deal between Mexico's BitPagos and Entrepids to allow e-commerce stores to accept the currency.
Alberto Vega, BitPay's regional manager for Latin America, told CoinDesk interest among online retailers is growing:
"It is a very exciting time for bitcoin adoption in Latin America. We are experiencing a great moment, [with] major growth since the TAR Airlines announcement a few months ago."
Although bitcoin merchant adoption is waning – with many businesses reporting "widely disappointing" sales – Latin America appears to be bucking the trend.
According to BitPay, the region saw a 510% increase in transactions from 2014 to 2015. It sees around 10% of transactions happening in Europe, the region that hosts half of BitPay's merchants.
Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay.
More For You
A Seoul-based funeral services firm disclosed tens of millions of dollars in unrealized losses tied to leveraged ether ETF investments.
What to know:
- A South Korean funeral company disclosed a roughly $33 million unrealized loss tied to a leveraged crypto-related ETF.
- The firm invested in the T-REX 2X Long BMNR Daily Target ETF (BMNU), which targets 200% of BitMine Immersion Technologies’ daily performance.
- The disclosure highlights rising appetite among South Korean investors for...
Top Stories
