Japan’s Crypto Exchange Bitpoint Expands into Latin America, Will Start Trading in Panama

Bitpoint released a press announcement on Wednesday 12th December indicating that they had recently launched a cryptocurrency-to-fiat currency trading platform that would be operating from Panama. The exchange, which has so far complied with all the set regulations is set to start offering leading cryptocurrencies, e.g., Ripple, Bitcoin Cash, Litecoin, Ethereum, and Bitcoin Core as well as USD pairs.

Bitpoint’s Expansion To Panama

Bitpoint is currently headquartered and licensed to operate in Tokyo, Japan. It recently announced that it was looking towards making inroads in Latin America, with Panama being its first major stop. This has been released with the introduction and licensing of its Panama based exchange going by the name Bitpoint Panama.

Prior to this launch, the exchange already had a presence in a total of five Asian countries. While making this announcement, the firm announced that the Panamanian based exchange could be used by both citizens as well as corporate bodies. For the time being, the exchange will be making use of the services provided by Panama ACH bank to handle all Fiat-related withdrawals and deposits initiated by users who have already been verified through KYC.

Genki Oda, Bitpoint Japan President stated that the firm was proud to have headway into Latin America by opening its Panama trading platform. The executive went on to state that the fact that they had been able to formalize a cryptocurrency asset by working hand-in-hand with the local authorities was a major milestone towards the exchange achieving sustainable development.

Genki further added that with their new trading platform, they would utilize their standards and industry knowledge to guarantee the consummation and serenity of their local Panama based partners.

Regional Regulations

The executives at the Japan-based crypto exchange have stated that they will make it possible for all users who have been verified to trade Litecoin, Bitcoin Core, Ethereum, Ripple, and Bitcoin Cash against the US Dollar. In addition, the firm intends to make sure that its Panama operation is always liquid to guarantee users speedy clearance.

In compliance with the local regulations, Bitpoint has made sure that the Bitpoint Panama trading platform is KYC/AML compliant. Cryptocurrency enthusiasts will, therefore, be in a position to register for either corporate or personal accounts.

Compared to other platforms which have gone on to adopt Zendesl-like platforms to handle customer care inquiries, the trading platform has provided an official number that can be used by clients to speak with their agents whenever they have a pressing issue.

Although Panama has not fully regulated the cryptocurrencies in operation in the country, Bitpoint has emphasized that it has been fully regulated in Tokyo, Japan. In its official website, it goes on to state that it will continue operating on the same principles and good practices that it has been using in its headquarters.

To protect their user data, the firm has deployed an anti-intrusion system that can be used to detect all hacking attempts and deploy measures to prevent intrusion on a real-time basis.

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