bitcoin wallet and API platform Blink, formerly known as bitcoin Beach Wallet, has announced a new partnership with Distribuidora Morazán, the second largest distributor of consumer goods in El Salvador, according to a press release sent to bitcoin Magazine.
This collaboration between Blink and Distribuidora Morazán has paved the way for a pilot program that allows the distributor to accept bitcoins from a select segment of its extensive customer base, which includes more than 40,000 merchants. Additionally, Distribuidora Morazán is actively encouraging and supporting these merchants to integrate bitcoin as a payment option in their retail establishments. This measure by Distribuidora Morazán is a strategic effort to promote and encourage the adoption of bitcoin among companies (B2B) in El Salvador.
“Our distribution operation, until today, has been predominantly managed in cash and this presents a series of logistical, time and operational difficulties that slow down our daily ability to visit more points of sale. bitcoin solves that,” said Distribuidora Rodrigo Jacir García -Prieto, general director of Morazán. “The vast majority of our customers are unbanked and this is the perfect way to introduce them to their first financial tool. We want to make the most of what bitcoin can do for us and our customers by enabling efficiency in cash management. , reducing operating expenses and increasing our ability to expand our reach within Central America while using a secure payment method like Blink.”
The pilot program has already been implemented in 30 of the 80 merchants targeted by Phase I, with plans to incorporate up to 3% of Distribuidora Morazán’s clients, equivalent to 1,000 merchants, in 2024.
“Our collaboration with Distribuidora Morazán is not just about a feature or a program. It is about catalyzing a nation’s shift to adopt bitcoin from the ground up,” said Noor El Bawab, CEO of Blink.
This partnership, along with Blink’s new ‘Buy and Sell bitcoin‘ feature, marks an important step forward in normalizing bitcoin transactions in everyday life in El Salvador. These initiatives exemplify a concerted effort to harness bitcoin‘s potential for efficient business operations and inclusive economic growth among communities and small businesses.