Nearshore Americas

Japan’s Bitpoint Sets up Shop in Panama

Bitpoint, a cryptocurrency exchange from Japan, has arrived in Latin America, launching operations in Panama.

The exchange will offer digital currencies – including Ripple, Bitcoin Cash, Litecoin, Ethereum, and Bitcoin Core – in exchange for the US dollar.

Tokyo-based company has operations in five Asian countries, and is one of a few cryptocurrency exchanges that comply with banking regulators.

Citizens of Panama and corporate entities registered in the Central American country can use the exchange, the Japanese company stated in a press release.

According to reports, Bitpoint has partnered with a local financial services company ACH bank for verifying customers.

Once verified, people can call agents at the exchange, known as Bitpoint Panama, to trade in virtual currencies.

The Japanese company has promised that it would deploy all sorts of modern technologies in order to ensure transparency and speedy transactions.

Panama is yet to put in place laws for regulating digital currencies, but Bitpoint says it will abide by the same principles it adhered to in Japan.

The company claims to have deployed a strong anti-intrusion system that detects all hacking attempts and identifies cyber criminals well in advance.

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“We are proud to announce our market entry in Panama—the formalization of the crypto asset trading sector together with local authorities is a key milestone for its sustainable development,” said Genki Oda, President of Bitpoint.

Narayan Ammachchi

News Editor for Nearshore Americas, Narayan Ammachchi is a career journalist with a decade of experience in politics and international business. He works out of his base in the Indian Silicon City of Bangalore.

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