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Colombia is getting its own bitcoin exchange

There are over 170 bitcoin exchanges globally, spanning 65 countries. One of the countries though that doesn’t have a bitcoin exchange yet is Colombia. However, this is changing with the introduction of the Colbitex bitcoin exchange.

Colbitex is a Colombian based bitcoin exchange that just launched in test mode with plans to go live in July. The exchange allows users to buy and sell bitcoin using their trading platform. Users can fund their account in Colombian Pesos (COP) through a bank deposit or PSE transfer (ACH option).

Roman Parra, manager of Colbitex said in an interview with Daily Bitcoin that test mode is intended for people to familiarize themselves with the platform.

Parra says:

“Colbitex is a technology platform and backed by a real company, formally registered in Colombia and compliant with current applicable regulations, from the point of legal, tax and commercial view.”

Colbitex was founded by Roman Parra, an engineer and specialist in marketing, and Carlos Mesa, a computer systems engineer, who have been studying and working on the development of the bitcoin industry in Colombia for more than three years.

Colombians in the past who wanted to buy bitcoin using Colombian pesos were forced to use LocalBitcoins as there aren’t any exchanges that accept pesos at this time. As you can see from the Coin.Dance chart below, the LocalBitcoins market in Colombia has been steadily increasing making Colombia ripe for adoption.

localbitcoins-columbia

Tags in this story
bitcoin exchanges, Colbitex, colombia, Latin America, Local Bitcoins
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david@bitcoin.com'
David Shares

David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.