Does Bitcoin Have Big Potential in Peru?

(Photo: Wikipedia commons)

CEO of Surbtc says the high percentage of Peruvians without a bank account means that digital currency has room to boom.

Surbtc, Latin America cryptocurrency exchange, officially launched ethereum and bitcoin in Peru. This makes Peru the third South American country for Surbtc in the digital currency market, after Chile and Colombia.

Most importantly, Surbtc is not charging trade fees to Peruvians until September 30th, allowing users to get used to the system.

Surbtc CEO Guilermo Torrealba expects at least 10,000 Peruvian customers, increasing their base by 50%.

This optimistic outlook is because Peru is one of the most unbanked countries in Latin America, according to Oxford Business Group. Mr. Torrealba recognizes that this means there is a world of potential in bringing Peruvians into cyber-currency options.

It remains to be seen if digital currency will have greater success in reaching unbanked Peruvians than the country’s formal banking system.

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Mike Dreckschmidt

Mike grew up and eventually attended university in Green Bay, Wisconsin. He graduated in Integrative Leadership Studies with an emphasis in Urban and Regional Planning and has been a part of planning projects in three different countries. Mike’s passion is reading; he devours both literature and nonfiction. His favorite author is Peru’s own Julio Ramón Ribeyro.