South American cryptocurrency exchange SurBTC now allows users to trade in Ether and bitcoin. The exchange says that it hoped the move will contribute to making the underlying technology accessible for all South Americans.
In the announcement made August 16, 2017, the exchange also said it would suspend commission fees for Ether and bitcoin trades until September 30, 2017. In a translated statement, CEO of SurBTC Guillermo Torrealba said the discounted rate, “is definitely an incentive for users to try our service.” He went on to clarify that the discount will not apply to users in Chile or Columbia, whom the exchange already serves.
— SURBTC (@SurBTC) August 16, 2017
By Torrealba’s count, the current membership on the exchange between the Chilean and Colombian market encompasses 20 thousand users. He expects the exchange to grow by “at least 10,000 Peruvians for our first year in that market.”
The move to Peru represents a growing sentiment among those in the exchange industry to bring financial services to new markets and exploit demand for cryptocurrencies. Torrealba stated the market is favorable in Peru, but also warns that the road ahead to mass acceptance will require effort. “[Cryptocurrencies] are the future, but do not take their quick adoption for granted. For this we have to work.”
Quotes translated using Google Translate.
Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.