June 23, 2024

A Colombian Delivery Service Startup To Add Bitcoin


Rappi customers will now be able to buy Bitcoin on the company’s platform. A local news outlet has said that although this new feature will not be available on Rappi App, those willing to purchase the Cryptocurrency will sign up once this feature is enabled. The delivery service startup was launched in Colombia in 2015 and now operates in the other neighboring countries such as Mexico, Uruguay, Chile, Argentina, and Brazil. President Duque has recently expressed his desire to make Colombia a Cryptocurrency hub.

Rappi Users To Access Bitcoin


A Colombia-based delivery service startup has announced plans to introduce a feature that will make it possible for its customers to buy Bitcoin. Rappi recently concluded a study in which it wanted to establish the interest of their customers to purchase altcoins on its platform. In the study, the company asked its users the proportion of their money they would spend on Cryptocurrency, their experience with the virtual currencies before, and the process they had used to purchase them. The company’s decision to provide this feature is an indicator that the outcome of this research was positive.

The company has not given the specific date for the launch of this program. Furthermore, it has not given details about how the purchase will take place. Given that the new feature is not yet available on Rappi App, those willing to buy Bitcoin will be required to sign up once this program is launched. The company is already present in six countries in the region but it is believed that the program will first be launched in Colombia before being introduced in the other countries.

About Rappi Company

Felipe Villamarin, Sebastian Mejia, and Simón Borrero founded Rappi in 2015. Some of the known financiers of this service include Sequoia Capital, Andreessen Horowitz, and DST Global. At its launch, the company was only involved in the delivery of drinks. Over time, however, it has grown and now delivers almost everything including restaurant deliveries and supermarket shopping deliveries.

The company has expanded to other countries in Latin and South America namely Mexico, Uruguay, Chile, Argentina, and Brazil. It is not yet clear whether the new feature will be introduced in other countries. However, it is important to note that the use of Cryptocurrencies in Argentina has been increasing tremendously partly because the local currency has lost its value against the dollar in recent months.

The Colombian Crypto Market

The popularity of Cryptocurrency has been increasing in Colombia in recent times with James Rodriguez, one of the country’s most famous football stars launching his coin. President Ivan Duque recently said that he wants to make the country a technology leader. Some of the measures the government has introduced to attract Crypto firms include giving such companies a tax waiver for the first five years.

The current government’s attitude towards Cryptocurrency in Colombia is expected to play a major role in making it easy for Rappi to roll out the program. It’s no secret President Duque has seen the potential of the virtual currencies and blockchain technology and wants to see his country to benefit.

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