Coinverse recently unveiled a new banking platform for Bitcoin users.
The platform hopes to bring merchant and consumer bitcoin transactions and bill payment to the wider Latin American market.
Coinverse, the Brazil based Bitcoin firm perceives an unfulfilled demand for user-friendly bitcoin solutions and realizes that their domestic competitors are better catered to the experienced bitcoin users and traders.
Safiri Felix, Financial director at Coinverse, said in an interview that approximately 90% of the locals who buy bitcoin see the technology as an investment.
Therefore, he pointed out, there are very few services that strive to utilize the digital currency’s underlying technology as a method to transfer value.
What the firm wants is to create something that will allow them to reach out to the regular user, and not only the speculative users and traders.
Felix added that they are working constantly to make Bitcoin more accessible to ordinary people.
It is true that the Coinverse platform offers great value to the Brazilian users. They can easily sell and by. They are also given the option to pay off their boletos bancarios with bitcoin.
A Boleto Bancario is a financial document issued by the government, and is very similar to an invoice. The customers might choose to use this payment option while making online purchases.
In the boleto, the amount of money that the merchant has to pay is specified, along with the time limit.
Consumers can pay boletos through online banking, banking agency, supermarket, post office or other merchant client listed to accept boleto payments.
With this new feature by Coinverse, the consumers can also decide to submit their boletos to Coinverse and then pay them in bitcoin. Coinverse will later pay the owed amount in fiat to the issuing merchant.
Felix thinks merchants are very important for wider bitcoin adoption in the country. He plans to offer a processing solution for the customers.
In the interview, he informed that there is a clear need to boost merchant adoption in Brazil. This is the main reason why Coinverse decided to use the solution with boleto.
With the solution they are allowing Bitcoin users in Brazil to buy anything they want over the internet and make payments with bitcoins.
He believes merchants from Latin American merchants are very speculative about adopting the crypto currency. However, they deduced that most people are waiting for bigger companies to take the lead.
According to Felix, bitcoin is more widely accepted currency worldwide. Bitcoin users will start buying it before traveling or buying different goods and services abroad, and this will create demand in the Brazilian market.
He stated that the company’s focus is to grow the market and make bitcoin more user- friendly.
Before Coinverse launched its universal service, it ran a bitcoin ATM by Genesis Coin. The company does not have any plans at present to set up more of these machines.
Instead, they want to use the ATM as a mode of meeting and acquainting with the bitcoin community members. They will later discuss about bitcoin solution for the mainstream consumer market.