El-Salvador is trailblazing Bitcoin adoption among the countries of the world. On September 7th, the parliament of El-Salvador enacted the anticipated Bitcoin Law. Thus, Bitcoin is now a legal tender in the country.
To enhance the adoption and usability of Bitcoin in El-Salvador, Bancoagrícola announced yesterday that it has partnered with Flexa. This integration will make it easier for customers and merchants to pay in Bitcoin.
Bancoagrícola, a division under the Grupo Bancolombia, is the one of the largest banks in El-Salvador as it has existed for almost 65 years with more than one million customers.
On the other hand, Flexa is a tech company that provides institutions and developers with integrational infrastructure to accept digital currencies.
Moving on, the customers of Bancoagrícola can now make Bitcoin payment for their credit card services or loans that they have collected in the United States Dollar. The bank proceeded to mention that this payment will not attract any fee and it will be at a “fair market rate.”
On this note, the bank encouraged its customers to update their Bancoagrícola mobile application to enjoy this latest functionality.
According to the bank, it is also working on making Bitcoin payments available on its clients’ Points of Sale (POS) terminals before this year ends.
The COO of Bancoagrícola, Carlos Mauricio Novoan, said this while commenting his view of the new partnership: “Flexa has been instrumental in helping us prioritize our customers’ experiences using bitcoin as legal tender in El Salvador; we look forward to continuing to innovate alongside them for a long time to come.”