Bunker Company To Accept Payment For Oil In Crypto

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A recent news article published in the Ship and Bunker states that buyers can now pay for bunker using Bitcoin in Colombia.

CI International Fuels able to accept digital currencies

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.

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.

Necessary requirements to take such payments

“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.”

Colombia’s interest in the use of cryptocurrencies

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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Source: Ship and Bunker

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