Over the last few months, Panda Group has been relentlessly pushing for cryptocurrency adoption throughout Colombia and Venezuela. In mid-July, the company deployed 10 hybrid cryptocurrency point-of-sale (PoS) machines that also work as automated teller machines (ATM). Four of the devices are situated near the border of Venezuela, so citizens from the region and those crossing the border can utilize a gateway to digital assets. Panda Group also installed the crypto PoS hybrid solution in Bogotá, at La Tortata sweet shop, the well-known burger shop Darwinos in Cúcuta Colombia, and the machines also appeared at the EXMA conference in Bogotá on May 27-28. This week Lozano and his team announced the partnership between Farmarket and Xpay, the solution that powers the PoS devices. The Xpay integration will start at stores located in Caracas and expand to the rest of the pharmacy’s 22 locations across Venezuela.
Xpay helps Farmarket accept digital currencies and lets the merchant choose what percentage of funds they wish to withdraw in crypto or its equivalent in local currency. The PoS processing is facilitated by the Colombian trading platform Panda Exchange. All of the partnerships Panda Group has made this year are part of an effort to continue making strides in Latin America. Farmarket customers stemming from Caracas and abroad will be able to pay for goods and medicine with digital assets like bitcoin cash (BCH). With the Venezuelan economy in disarray, family members travel great distances to buy medicine for areas with poor infrastructure. Panda Group has worked with organizations like Dash Core and Maker Dao (DAI) to push the effort. In March, Panda Group members also helped the ATM company Athena Bitcoin install a crypto ATM on the border of Colombia and Venezuela. The Colombian-based company is also collaborating with Cobru, Gracon, and Pagos Inteligentes. Additionally, Panda associates worked with Bitcoin.com during Bogotá’s EXMA event and Lozano told our newsdesk that Bitcoin.com’s executive chairman, Roger Ver, was one of the first to believe in the Xpay project.
“Panda Group appreciates the contribution of Roger Ver who is our friend, and we thank him and the Maker Dao (DAI) team for being the first to believe in Xpay.cash,” Lozano explained to news.Bitcoin.com.