Saturday, November 27

Salvadorans will be able to pay for any public service with bitcoin through Bitrefill

Key facts:
  • Sergej Kotliar, believes that the adoption of Bitcoin in El Salvador, would be a guide for other countries.

  • So far this year, Bitrefill has processed more than 187 thousand purchases in El Salvador.

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In the framework of the Adopting Bitcoin summit, which takes place this week in El Salvador, Bitrefill announced that the payment of bills for multiple public services was enabled in that country. The news was announced by the platform’s executive director, Sergej Kotliar, during his speech at the event, this Wednesday, November 17.

Bitrefill is a platform that offers prepaid cards with bitcoin and other cryptocurrencies, valid for acquiring products and services from various countries worldwide. Today’s announcement implies that Salvadorans will be able to pay for about 150 different services in the coming weeks, 12 of which are available now.

Among the public services mentioned by Kotliar in his presentation, are “water, Internet, loans, mortgages, taxes, university and more”, such as reported the special envoy of CriptoNoticias, Iván Gómez. For its part, a Tweet of the platform noted: “El Salvador can now live completely in Bitcoin”, referring to the announcement of its CEO.

Bitrefill CEO Sergej Kotliar said that they have processed 187 thousand purchases in El Salvador, of which 20 thousand were made in September, the month of the approval of the Bitcoin Law.

What is Bitrefill doing in El Salvador?

Sergej Kotliar confirmed that Bitrefill yes has a physical headquarters in El Salvador, and a country manager who is taking care of hiring staff to fill all the necessary roles. In his opinion, the best strategy is to have a presence in the country, to collect information directly. In this sense, they propose to speak and listen to people; not assume things, but learn; and launch products from that learning.

According to their data, so far this year the platform has processed some 187,000 purchases in El Salvador, with a notable increase in September, the month in which the Bitcoin Law came into force in the country. In that period they reported up to 20,000 payments.

Other figures indicate that most of the payments come from «Chivo Wallet» purses, the application created by the Salvadoran government. Operations with independent wallets is low at the moment. Likewise, it was known that 88% of the transactions come from the Salvadoran capital. For Kotliar, the low banking system in El Salvador means that Bitrefill Compete directly with cash dollars and not debit cards or other payment providers with bitcoin.

The executive highlighted the importance of the adoption of Bitcoin as legal tender in El Salvador. In his opinion, it is “an opportunity that the community should strive for to succeed”, since this experience could become a guide that allows its implementation in other countries.

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