Supplier of Over 40,000 Merchants in El Salvador Now Accepts Bitcoin

Bitcoin News Feed writes:
Supplier of Over 40,000 Merchants in El Salvador Now Accepts Bitcoin

Bitcoin wallet and API platform Blink, formerly known as Bitcoin Beach Wallet, has announced a new partnership with Distribuidora Morazán, the second-largest distributor of consumer goods in El Salvador, according to a press release sent to Bitcoin Magazine.

This collaboration between Blink and Distribuidora Morazán has paved the way for a pilot program that allows the distributor to accept bitcoin from a select segment of its extensive customer base, which includes over 40,000 merchants. Furthermore, Distribuidora Morazán is actively encouraging and supporting these merchants in integrating Bitcoin as a payment option in their retail locations. This move by Distribuidora Morazán is a strategic endeavor to promote and foster business-to-business (B2B) Bitcoin adoption in El Salvador.

“Our distribution operation, until today, has been predominantly managed in cash and this presents a series of logistical, time, and operational difficulties that slow our day-to-day ability to visit more points of sale. Bitcoin solves that,” said Distribuidora Morazán CEO Rodrigo Jacir Garcia-Prieto. “The vast majority of our customers do not have access to banking services and this is the perfect way to introduce them to their first financial tool. We want to take full advantage of what bitcoin can do for us and our customers by enabling cash management efficiency, reducing operational expenditures, and increasing our ability to expand our reach within Central America while using a secure payment method such as Blink.”

The pilot program has already been rolled out to 30 of the target 80 Phase I merchants, with plans to onboard up to 3% of Distribuidora Morazán’s customers, equivalent to 1,000 merchants, in 2024.

“Our collaboration with Distribuidora Morazán isn’t just about a feature or a program. It’s about catalyzing a nation’s shift to embrace Bitcoin from the ground up,” said Noor El Bawab, CEO of Blink.

This partnership, along with Blink’s new ‘Buy & Sell Bitcoin’ feature, marks a substantial step forward in normalizing Bitcoin transactions in everyday life in El Salvador. These initiatives exemplify a concerted effort to harness Bitcoin’s potential for efficient business operations and inclusive economic growth among communities and small businesses.