Buda.com, a Chilean Crypto exchange have launched its service in Argentina. It is endorsing four cryptocurrencies and is providing its services in various countries. Initially, Buda.com focused to offer their services in South American countries. Earlier, It was called as SURBTC and accepted clients from Columbia and Perum.
Buda.com’s services in other countries
Recently, Buda.com came into the existence when Chilean Bank reopens account of cryptocurrency exchanges. This information began spreading like a wild fire and avowed Buda.com to explore their services. Bancoestado is the public Bank of Chile which finalized the first reopening of a current account for Cryptomkt and Buda.com. This news was confirmed by Martin Jofre, a founding partner of cryptocurrency platform.
As per La Tercera publication, On May 28, Buda.com began its operation in Argentina to promote the purchase and sale of cryptocurrencies. The publication specified the statement asserted by General Manager of the exchange Pablo Chavez, saying that Cryptocurrencies have positive effect on working with Argentine financial industry. It is giving access and lowering the ambiguity of users and how they merge economically on the internet.
Pablo Chavez formulated that at the beginning the available cryptocurrencies were Bitcoin, ether and Bitcoin Cash but moving on exchange will cast Litecoin in its list. Further he says that the publication will offer market service which provide a platform for users who desire to purchase and sell cryptocurrencies in Argentine’s currency.
Lawsuit against bank
Even though Buda.com has began its service in Argentina, it has appeal to court for reopening its account in Chile. The exchange has filed a lawsuit against 10 banks in April after they closed the current accounts of crypto exchanges. Virtually, Chile’s Court for the Defense of Free competition have ordered three banks to reopen the accounts of two crypto exchanges. Accordingly, the Chilean bank like Bancoestado, Scotiabank and Itau Corpbanca must reopen the accounts of few exchanges including Buda.com.
As per reports, Buda.com is operating in cities like Peru and Colombia, Chile and now targets to expand its services in Argentina. It has 80,000 clients all over the world. Basically, Chile is been continuously supporting Blockchain and cryptocurrenices. In March Commission Nacional de Energia de Chile (CNE), the Chilean energy regulatory agency adapted Blockchain technology in the national energy grid.
Instead of having so many hurdles for trading cryptocurrenices in Chile, Buda.com come up with crypto trading facilitates and still exploring its services. It also aims to become one of the largest cryptocurrency exchange in Latin American Continent and intents to reach its transaction volume up to USD 20 million per month by the annul year 2018.