Venezuelan startup Cryptobuyer has started operations in the Bolivarian Republic of Venezuela. The company is formed by a multidisciplinary team of young entrepreneurs determined to bring blockchain technology (the public ledger for Bitcoin transactions) to Latin America.
Cryptobuyer received US$50,000 in seed funding from Denari Capital in January 2016, and partners the Bitcoin Foundation of Venezuela, which provides legal support and tax advice.
Using blockchain technology and local gateways, Cryptobuyer makes it possible for users to pay utility bills, recharge mobile phones, and pay credit cards, as well as providing its customers with virtual or real debit cards to use worldwide, both physically and online.
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