Three months, ago news.Bitcoin.com reported on Panda Exchange launching a hybrid point-of-sale (PoS) and cryptocurrency ATM in Bogotá, Colombia. Since then, the Panda team has also helped Athena Bitcoin install a crypto ATM in Cúcuta, Colombia to serve as a crypto gateway for Venezuelans. On April 17, Panda announced the installation of its second digital currency PoS terminal at Cúcuta’s most popular burger restaurant, Darwinos.
Panda Exchange Launches Another Exeler BTM in South America
Spreading cryptocurrency throughout Latin America is a big deal to the Panda Group team and the company’s founder Arley Lozano. Panda Group provides cryptocurrency solutions globally and operates the trading platform Panda Exchange. Last January, news.Bitcoin.com spoke with Lozano about the hybrid PoS terminal and cryptocurrency ATM installed in Bogotá, at La Tortata sweet shop.
Panda calls the device the Xeler BTM and the terminal allows users to buy and sell cryptocurrencies, as well as the ability to process payments for products purchased with BCH, BTC, and DAI. This week, Lozano told our newsdesk about the latest Xeler installation which took place in Cúcuta Colombia at the well-known burger shop Darwinos. Lozano explained that Darwinos serves the best burgers in Cúcuta and the team saw a good turn out the day the Exeler was installed. Now users can buy food and beverages with crypto and also purchase digital assets in exchange for Colombian pesos.
Lozano and Panda are no strangers to the Cúcuta region which is very close to the border of Venezuela. On March 18, Lozano and his team consulted the ATM company Athena Bitcoin and helped them install a cryptocurrency ATM in the city of Cúcuta. Athena’s blog post says that Panda Exchange was responsible for coordinating the logistics for the installation of the Athena ATM. Both teams hope that the ATM serves as a cryptocurrency gateway for not only local residents but also bordering Venezuelans as well.
Cúcuta, otherwise known as San Jose de Cúcuta, is a metropolitan area that borders the economically stricken country of Venezuela. Since the economic hardships and civil unrest under Maduro’s authoritarian regime, many Venezuelans have sought refuge in Cúcuta. The city has acted as a hub of commerce in the Norte de Santander region and this is why Athena Bitcoin and Panda Exchange have been making strides in this area.
Spreading Cryptocurrency Accessibility to the Unbanked in Colombia and Venezuela
The Darwinos installation is now the second portable cryptocurrency terminal in Colombia and Lozano tells our publication that the team hopes to have about 100 of these devices distributed throughout Colombia and Venezuela by the year’s end. Roughly 20 of those devices will be installed in the region at a well-known chain of pharmacies. The company also detailed that there’s no regulatory guidelines at the moment in Colombia that require users to declare taxes when they use the Xeler BTM. There is a minimum of about US$15 worth of crypto that can be purchased and Panda does take a small commission from digital currency purchases and PoS transactions. Further, the Xeler has an integrated KYC system which requires the user to verify their identity for ATM transactions and a single record is made per user. Panda integrated the Xpay payment processor with Xeler which allows merchants to process payments with cryptocurrencies.
Lozano and Panda believe that spreading peer-to-peer digital currencies throughout the region will help economic freedom flourish for people who need it most. Not only does the latest terminal provide more accessibility to bordering Venezuelans seeking refuge in Cúcuta, the machine also helps locals a great deal. The company told news.Bitcoin.com that roughly 55% of Colombians are unbanked, so the Exeler PoS terminal and crypto ATM solution is focused on buying and selling digital assets with Colombian pesos.
“At Panda Group we are happy to spread cryptocurrency adoption in Cúcuta and it’s also my hometown,” Lozano stressed. “Moreover, many Panda team members have a heart and soul for our friends and family in Venezuela — Deploying Xeler with our Xpay solution will help our brothers and sisters be able to buy cryptocurrencies direct during these hard economic times.” The Panda Group founder concluded:
Our next plan is to deploy more Xeler terminals and Xpay throughout a variety of supermarkets and pharmacies. Panda Group was born to help our brothers and sisters with crypto solutions and provide accessibility to real people.
What do you think about Panda Exchange launching another Exeler terminal in Cúcuta Colombia? Let us know what you think about this project in the comments section below.
Image credits: Shutterstock, Panda Exchange, Athena Bitcoin ATM logo, Arley Lozano, and Darwinos.
Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.