Chile Expands Asian Reach – BitNexo Wins BBVA Competition

Bitcoin ChileThere has been many triumphant companies in the BBVA. Spain’s second major bank has held the contest in Mexico City early September and with lots of fintech-focused companies from all over Latin America to take part in the competition.

BitNexo, Chile’s premier fintech startup, has been named the winner of BBVA’s Open Talent 2015 content for Latin America. Everledger, a London Blockchain startup, is the joint winner of BBVA’s European Open Talent competition.

As with any startup out there, BitNexo’s founders come from a sundry background, but are mainly based in Chile and China. Now, they are contemplating expansion in Mexican and Philippine regions in the immediate future.

This blessed newcomer offers an alternative Bitcoin payment solution for cross-border payments between Latin America and Asia. Such has been used by remittance-centered institutions.

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Bitnexo

The competition heated up in Mexico and is said to be “based on open innovation, interaction and joint contribution” for fintech aspirants. Other competitions have been held in New York, Barcelona and Mexico City, with the last being open solely to startups in developing economies in Latin America.

This is a very complex decision from a regulated finance body with traditional outlooks, but BBVA stated unambiguously that the fintech industry is “disruptors” to customary financial organisational power. Instead of eradicating the growing trend, BBVA and other major banking companies have decided to join them to attempt to find a common denominator. It really affirms the saying, “If you can’t beat them, join them.”

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BitNexo’s cryptocurrency-related services provide a modern platform for customers to pay for services or goods between Asia and Latin America. One of the featured advantages is that it offers an exceptional security feature through Blockchain tech and gives much more transparent exchange rates to appease customers from sudden and volatile currency fluctuations.

The platform also offers the classic feature for UX which is the ease of use. Users of BitNexo’s services don’t need to extensively understand the technology in order to use it and do not have to buy, have or manage BTC in order to utilise the service.

More and more startups are eyeing the sleeping dragons. Learn more about the rapid development of the Bitcoin Asia situation here at Coin News Asia.

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