Major Venezuelan Satellite TV Provider Enables Bitcoin and Other Cryptocurrencies Payments

30 March 2021

Major Venezuelan Satellite TV Provider Enables Bitcoin and Other Cryptocurrencies Payments

Venezuelan customers from the biggest satellite TV provider in the country are now able to pay their monthly bills via cryptocurrencies. Simple TV announced it had enabled the feature to its over four million users, whose company was the replacement of Directv.

Company Expects to Cut Dependency on Fiat Dollar

According to the announcement, the provider arranged a partnership with Panamanian firm Cryptobuyer, and Simple TV’s landing page is now showing the option to pay via cryptos.

Customers could send their payments in bitcoin (BTC), dash (DASH), litecoin (LTC), ethereum (ETH), binance coin (BNB), and binance dollar (BUSD). Also, users can also pay with Cryptobuyer’s native token, XPT.

Simple TV, owned by a Chilean investment fund, offers over 300 TV channels from major networks, including ESPN, HBO, and Disney. With such addition, the satellite TV provider expects to “boost the usage of cryptocurrencies across Venezuela.”

Jorge Farías, CEO of Cryptobuyer, told Contrapunto that crypto payments would enable TV providers like Simple TV to widen their range of coverage significantly:

It is known that Simple TV reaches the most remote places of the country, imagine the importance of this, when it allows the possibility of accessing its service in places of the interior, for example, without having to have a dollar account or having to depend on an intermediary. It is an important step that even pays for the possibility of access to entertainment and information, even more, demanded by the confinement.

Simple TV took over Directv’s portfolio in Venezuela after the American satellite TV provider closed its operations in the nation, becoming the major provider.

Crypto Adoption in Venezuela Is on the Rise Across Stores

The South American country — known for its troubled situation in economics and political affairs — has been actively witnessing crypto adoption among stores and services providers. News reported last year that all Pizza Hut locations in Venezuela started to accept a broad range of cryptocurrencies, including bitcoin.

What are your thoughts on Venezuelans’ possibility to pay satellite TV bills with cryptocurrencies? Let us know in the comments section below.

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