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Buyers Can Now Pay For Bunkers Using Bitcoin In Colombia
Colombia-based physical supplier CI International Fuels is now able to accept payments for bunkers using digital currencies such as Bitcoin and Ether, after it received the necessary approvals from the country's government.
Himanshu S.
1:17 4th Jun, 2022
Bitcoin

The move follows rising demand for fuel payments in the country using cryptocurrency, CI International Fuels' President, Jaime A Ochoa Muñoz, told Ship & Bunker today.

"Our company's treasury department has spent a lot of time meeting the necessary requirements for the government in order to take such payments, and I am delighted that this has now been completed," he said.

"It is a big moment. We are the first in Colombia to accept payments for oil using crypto and are a first mover for this technology in the bunker industry as a whole.

"This new tool will facilitate commercial exchange and make our business more dynamic."

In recent years Colombia has seen growing interest in the use of cryptocurrencies, with major Latin American cryptocurrency exchange platform Bitso launching its app in the country last month.

At the time, CEO Daniel Vogel told Reuters that Colombia "is a very dynamic market in terms of cryptocurrencies."

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