Bancoagricola, the biggest bank in El Salvador, is now accepting bitcoin to pay for debts originated from the use of its instruments, according to a PR statement. The institution partnered with Flexa, a payments network, to include cryptocurrency capabilities in its software. Bancoagricola also allows merchants using Wompi services (a digital payment processor) to receive bitcoin for goods and services sold.
Bancoagricola Embraces Bitcoin
Bancoagricola, the biggest financial institution in El Salvador, has been one of the first to include bitcoin support for its financial instruments. This means that its customers will be able to pay for financial instruments (like loans, mortgages, and credit card debt) with bitcoin, complying with the bitcoin law.
Customers of the bank that use a digital payments gateway known as Wompi, will also be able to receive payments in bitcoin through this service. Carlos Mauricio Novoa, COO of Bancoagricola, stated:
We are excited to be the first financial institution in El Salvador to