Bitex was the intermediary company for this micro export to be conducted instantaneously paying with bitcoins
Argentina and Paraguay celebrated the first export of goods which went through customs and used bitcoins (BTC) as a means to conduct the operation almost instantly. The news was announced on Thursday, February 14th, through different web portals in Latin America.
The blockchain solutions company Bitex, which has a bitcoin platform to conduct its commercial operations, was in charge of fulfilling the commercial transaction between both countries. The central idea was to use the company’s blockchain platform with the purpose that the money was settled within one hour, instead of using the regular payment channels that can take between two and three business days.
Marcelo Moscatelli, Bitex’s Director of Marketing, mentioned that this is a great advantage in order that this type of export operations, relatively small, can be conducted almost instantaneously and without complications. Moscatelli explains that the company only worked as a mediator, and that the payment was made in the official currencies of each country. “The service is always quoted in local currency, in this case, Bitcoin is only a vehicle to process the payment, the exporter receives Argentine pesos, or dollars, and the buyer pays in local currency”, he said.
When the purchase was made, it was known that the export was made from Argentina to Paraguay, so the payment was made in Guaranies. Bitex converted it to Bitcoin (BTC) and then changed it to Argentine pesos. The exported products, which carried out the normal shipping route through customs, were equipment and supplements for fumigation and pest control for a company dedicated to that service. It is estimated that the products are valued at $ 7,100.
It is important to highlight that for this operation, no dollars or any other conventional means of payment were used. The transaction materialized without using companies or organizations in charge of making payments through financial institutions or banks.
Manuel Beaudroit, Director of Bitex, stressed that these types of operations represent an advance for his company and that they start from a clear concept: his vision of developing the Latin American economies, as well as giving greater competitiveness and commercial presence to cryptocurrencies in conventional markets.
Support Channels for Export Success
Manuel Beaudroit revealed that for the success of this commercial transaction between countries, the help of a suitable platform was needed in order to allow clients to export goods at low costs. “We are part of the Export Simple program, which facilitates the export of goods and services below
This platform is a substantial support which enables channels for the export of goods anywhere in the world. These shipments must not exceed 300 kilograms and facilitate their access to the service without the need to invest large sums of money, paperwork or personal records as exporters.
By: María Victoria Rodríguez