The leading technology firms ensure that to start using blockchain solutions and services with cryptoactives there is no restriction on the size or sector of the companies. In fact, there are more and more cases of small, medium and large companies finding allies that accompany them to build initiatives based on crypto that boost their businesses
Historically, companies that offer services or products to other companies or third parties have managed to transfer funds through various means, but it is increasingly in demand to have fast and cheap tools. Under this scenario, crypto assets appear, taking advantage of the robustness and security of the blockchain, as a possibility for companies of any size and sector to find services such as massive payments to third parties, instant payments, value protection, as well as access to entrance ramps or exit to cross-border payments, which allows them to do business in a multi-Latin environment.
However, companies alone would have a very difficult road if they wanted to develop their own solutions from scratch. There cryptoactive platforms appear on the stage that provide support from day one to access all the benefits that the industry offers.
In the words of Fabián Vidal, Business Operation Manager of Bitso Colombia, a leading firm in Latin America, with more than seven million users, eight years of experience, and the first exchange that has adopted security requirements at a European level, the door is open for develop innovative business models based on the financial infrastructure powered by cryptocurrencies, which is already open to the market.
How is Colombia compared to the region?
Historically, the country has welcomed emerging technologies. Today Colombia is positioned as a relevant country in the cryptoactive markets; in fact, it occupies the third position in Latin America in the adoption of this technology, which is revolutionizing personal and corporate finances, the way in which services are purchased and is promoting the appearance of new businesses that use this tool to offer innovative services.
“That is precisely what we do at Bitso. We recently celebrated one year in Colombia and we are supporting companies to solve problems with an impact on profitability.
Last year, the volume traded in crypto assets increased by almost 62% compared to 2022, and we hope that this year it may reach a growth of 80 or 100%, strengthening the image of relevance that the country has in the world market. We are looking for it to be massive, and even more than 650 establishments in the country receive crypto and more companies are allowing payments ”, complements Fabián Vidal.
Crypto: tips to get it right
Vidal explains that the first thing to consider is that the goal is not to use blockchain, but rather to have a successful business that meets a need in the market, and then to determine which blockchain tool is ideal to use.
“The first piece of advice to companies is to focus on their business development and then try to seek advice from people or companies, like Bitso, that help them select the best blockchain tools, thus avoiding some of the most common mistakes, such as focusing only on technology and forget the real objective of solving a tangible problem in the market”.
Once the blockchain solutions are implemented, the door opens for them to scale their business, not only in Colombia, but in other countries. One of the advantages of leveraging firms like Bitso is that they make available API platforms and integration tools that allow them to develop innovative models and reach markets such as Mexico, Argentina, and Brazil, with much higher costs and processing times. lower than the traditional financial system.
A look to the future
The company explains that what is projected to be most strongly is the adoption of blockchain in companies and institutions using stable currencies, which reduce exposure to volatility.
“At the infrastructure level, we will see more businesses using decentralized solutions in the cloud, but very connected with banking because that is where we arrive to materialize or monetize. However, there is also a growth in companies that offer services, not just banks, but companies that combine finance and technology and need to be able to process deposits in fiat currencies and convert them into digital assets, something that has already happened in countries like Brazil and Argentina. . In Colombia, the demand is increasing and we hope to see the country in the second or first place of adoption in Latin America”.
What’s next for Bitso?
The firm says that they will remain very close to institutions, will continue to promote cross-border payments based on stablecoins, in addition to betting on it so that companies have access to the United States market, with ease of collecting and depositing in a bank account there and withdrawing in Colombia with low costs and time efficiency.
“We will continue to support so that more people and companies are aware of the possibilities of crypto assets and remove financial barriers to access them. We want to make it as easy for anyone, regardless of age or technical knowledge, to access a platform that doesn’t feel like developers and professional traders, but in three clicks, like a digital wallet, uses crypto. In the near future we will see innovative services available to everyone”, concludes Fabián Vidal, Business Operation Manager of Bitso Colombia.