The operation was carried out thanks to Bitex, a startup that provides blockchain financial services, connected to "Compañía Americana", a company that markets fumigation products, with its client in Paraguay. In one hour he received his payment.
Buenos Aires, February 2019. Bitex is a startup fintech that started its operations in 2014 as the main provider in Latin America of solutions on the Bitcoin Blockchain, the most powerful decentralized value transmission protocol in the world. Just announcedthat the first official customs operation paid with bitcoins was carried out successfully in Argentina. In this case it is "Compañía Americana S.A.", an Argentine company that has more than 50 years of experience in the prevention and control of pests.
Specifically, he needed to export merchandise worth $ 7,100, to a customer in Paraguay, who made it through Bitex. "In our country, the costs of the swift network oscillate between $ 120 and $ 150. If a company exports $ 5 million, the cost is liquefied, that is, it is designed for big players and important amounts, Bitex always receives 1% by the operation and also provides other value proposals such as speed: the payment is made in one hour, "says Manuel Beaudroit, Marketing Director of Bitex.In addition, Bitex explains that the service is always quoted in local currency.
In this case Bitcoin is only a vehicle to move the value across borders. The exporter receives Argentine pesos, or dollars, and the buyer pays in local currency.
"For our company, this operation that we made through Bitex, really was very beneficial and innovative, since we saved time and bureaucracy. What usually takes a month for a bank to perform, we could do it in an hour, "says Carlos Odell, Director of Companía Americana.Therefore, the most important benefits are: the savings in operations of up to $ 20,000, the speed and availability of funds in the day. Transparency can be ensured, as there are fewer intermediaries that generate hidden costs, and less bureaucracy in the entire process.