Bull Bitcoin, a Canadian-based Bitcoin-only exchange that does not hold customers’ funds, has teamed up with Bitcoin Jungle, a local crypto wallet provider, and SINPE Movil, the main fiat payment system in Costa Rica.
The partnership, announced on Sept 14, will enable Costa Ricans and foreigners to easily exchange the national currency, Colones, and Bitcoin, as well as USD and Bitcoin via bank transfers (IBAN) in both directions.
The service will work through the Bitcoin Jungle wallet, which will receive Bitcoin from Bull Bitcoin after the users send their fiat money via SINPE Movil.
This will allow merchants to confidently accept Bitcoin payments and quickly convert them to fiat currency if they wish.