The Cryptomkt exchange has recently entered into a partnership with Flow, the Chilean payment platform. The exchange now allows customers to pay with three cryptocurrencies at over 5,000 stores. This announcement was made after the ruling given by two Chilean courts that banks must reopen the accounts of crypto exchanges that they had previously closed down.
Flow has integrated Cryptomkt’s payment solution, Cryptocompra into its system. Customers who shop at merchants via the payment platform Flow now has the option to pay with cryptocurrencies at the time of the checkout process.
Presently it is available only for businesses based out of Argentina, Chile, Brazil, and Europe. Cryptocompra facilitates merchants to accept payments in Ethereum, Bitcoin, and stellar cryptocurrencies quickly and easily, Cryptomkt said.
A fee of 0.90 percent for next-business-day payment with cryptocurrencies has been listed by Flow on its website. Cryptomkt mentioned in its statement issued to the press that now users do not need to have contacts with the means of payment. It is done by Flow for them, the company clarified in its statement. The company further mentioned that every time that a customer pays a merchant, they will be notified of the payment made. It also mentions that it will indicate the details of the payment made including the date on which they transferred the money to the merchant.
Battle Between Banks And Crypto Exchanges
As reported in the Bitcoin News report, crypto exchanges in Chile have been battling with banks over the closure of their bank accounts. The Defense of Free Competition (TDLC- Tribunal de Defensa de la Libre Compentencia) ordered three banks to reopen the accounts of crypto exchanges including Cryptomkt, in the month of April.
Earlier this month a ruling was given in favor of cryptocurrency exchange OrionX against Banco Estado for closing its account, by The Fourth Chamber of the Court of Appeals of Santiago.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]