American coffee company Compass Coffee uses Bitcoin to complete Salvadoran coffee purchase.
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September 21, 2024
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ChainCatcher News: Compass Coffee Uses Bitcoin for Salvadoran Coffee Purchase
According to the Salvadoran Ministry of Foreign Affairs, American coffee company Compass Coffee has completed an international purchase of Salvadoran coffee using Bitcoin. Jorge Cruz, the Salvadoran counterpart in the transaction, explained that he received the payment in under 10 minutes, eliminating the need for intermediaries commonly involved in such transactions.
This deal stems from a series of discussions held in 2022 between the US Department of State and Compass Coffee, aimed at facilitating the introduction of domestically produced coffee into the US market and connecting producers and buyers in both countries.
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