The name of the company translates to Bitcoin South and was recently launched to allow Chileans to trade and invest in Bitcoin.
Chile is near Argentina, a country that has dealt with several economic and currency crises in the past. Because of that, these countries have become more open to the idea of alternative currencies and financial systems.
During its earlier days, SurBTC was faced with a lot of rejection from banks in the country, as most of these institutions had a growing distrust for the cryptocurrency. The company eventually found a banking partner to work with in Chile. The Chilean government also decided to back the Bitcoin exchange by giving USD 40,000 in funding.
The Bitcoin exchange is looking into accommodate more traders by adding more services and adding USD to the platform soon. Apart from that, SurBTC also hopes to expand throughout Latin America.
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