CompassCoffee
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A U.S. coffee company, #CompassCoffee , has successfully completed a transaction using #bitcoinâïž to purchase coffee from #ElSalvador , marking a significant step in using cryptocurrency for international trade. Jorge Cruz, a representative from El Salvador, noted that he received payment in less than 10 minutes without the need for intermediaries, allowing producers to secure competitive prices directly.
The transaction is part of ongoing efforts by the Salvadoran government to connect local coffee producers with U.S. markets. Ambassador Milena Mayorga emphasized the benefits of using Bitcoin, as it enables producers to receive better pricing without third-party fees. Compass Coffeeâs COO, Chas Newman, highlighted the role of the Salvadoran embassy in facilitating this deal, which also allows buyers to tip producers directly in Bitcoin.
This development showcases the potential of Bitcoin in streamlining cross-border payments and supporting local economies.$BTC
A U.S. coffee company, #CompassCoffee , has successfully completed a transaction using #bitcoinâïž to purchase coffee from #ElSalvador , marking a significant step in using cryptocurrency for international trade. Jorge Cruz, a representative from El Salvador, noted that he received payment in less than 10 minutes without the need for intermediaries, allowing producers to secure competitive prices directly.
The transaction is part of ongoing efforts by the Salvadoran government to connect local coffee producers with U.S. markets. Ambassador Milena Mayorga emphasized the benefits of using Bitcoin, as it enables producers to receive better pricing without third-party fees. Compass Coffeeâs COO, Chas Newman, highlighted the role of the Salvadoran embassy in facilitating this deal, which also allows buyers to tip producers directly in Bitcoin.
This development showcases the potential of Bitcoin in streamlining cross-border payments and supporting local economies.$BTC
