Kripton Market seeks to enable payments with bitcoin in stores in Venezuela

Sandra Loyd

The cryptocurrency exchange and market Kripton Market develops projects to implement its payment services with bitcoin and other cryptocurrencies in 100 commercial premises in the city of Caracas, Venezuela.

In exclusive comments to CriptoNoticias, Juan Pablo Moreno, CEO of Kripton Market, clarified that the implementation of its services in commercial premises in Venezuela is not yet effective, but it is working on a project that involves retail stores and also the supermarket chain Automercados Plaza.

The executive pointed out that the work plan is being evaluated in conjunction with the businesses. Kripton Market offered its services as a solution to the informal dollarization of the Venezuelan economy and the low circulation of low-denomination banknotes , which hinders retail trade in that country.

The project is also being discussed with other supermarket chains. The plan covers businesses distributed in four urban areas of the city with medium population density . The presentation of this proposal would involve the technical training of managers and employees, enabling them to accept stablecoins or digital dollars in their businesses.

Exchange, market and services with bitcoin and RSK stablecoins

At the moment, the market and the range of services of Kripton Market are already they are operational and with a growing user base. This platform is one of the first cases of massive commercial use of the tokens of the RSK network, which works on top of that of Bitcoin as a second layer of this protocol.

The Kripton Market cryptocurrency exchange and market is functional to shipping of international remittances, a service from which Venezuelans, who are going through an unprecedented migration and refugee crisis in the region, but also users from other countries could particularly benefit. of its services in its country of origin, Argentina, as well as in Uruguay, Colombia and Venezuela, allowing its users to buy cryptocurrencies and convert them to national currencies freely.

Through the use of BTC and the tokens of the RSK network, Kripton Market allows you to send remittances, make payments and also buy all kinds of products and services on its platform.

Notably, Kripton Market states that it does not need to guard the user’s cryptocurrencies, but rather that the user has control of their funds using the Defiant wallet, an application that is compatible with the various cryptocurrencies and stablecoins used on the platform .

Although RSK is compatible with other wallets such as Metamask, these wallets would not work to buy or sell cryptocurrencies with Kripton Market.

The cryptocurrency purchase and sale process can be carried out directly between the Defiant wallet and the Kripton Market brokerage platform, without transferring custody . Likewise, you can settle the funds to cash in a bank account indicated by the user, after he sends the payment to the platform.

In Venezuela , more than 60% of commercial transactions were carried out with dollars in physical or digital cash during 2020, according to the firm Datanálisis. Composition by CriptoNoticias. wirestock /; LAWJR /

In a video tutorial, it is shown how an order can be placed of buying or selling cryptocurrencies from Defiant, indicating to Kripton Market the data of the account to be transferred.

Kripton Market has not yet integrated RSK smart contracts to perform some operations or exchanges automatically, However, as it becomes possible, will aim to deploy them at various levels of their platform.

Likewise, public services can be paid in these countries with bitcoin (BTC) and other cryptocurrencies. They also detail in a press release that a case of use of their platform could be the payment of salaries to employees, according to the legislation of each country.

Notably, the company has a marketplace or online store of sundries that can be paid with cryptocurrencies and received at a specific address. In this way they propose to promote the circular economy in BTC and other cryptocurrencies, when users can access products and services of all kinds; from mobile phones, clothing and household items, to professional services, courses, hotels and tourism and even real estate.

These operations are carried out with intermediaries called kriptonians , who are basically a team of support agents who help organize customer orders.

Further expanding their capabilities, not only can the available items be purchased on the Kripton Market website, which are offered by allied brands, but you can also buy products from other online stores such as MercadoLibre. In this way, and only upon request, the kriptonians would accept the payment in BTC or another cryptocurrency and manage the purchase on the portal indicated by the user.

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