In this Hyperion portfolio company update we cover the following recent Cryptobuyer initiatives which are driving real-world adoption of this extremely relevant cryptocurrency infrastructure business:

Cryptobuyer Pay retailer uptake

Binance Coin integration

Binance application for Dex listing and Incubator Program

Focus on Venezuela

Selina Partnership

Verifone Partnership

Panama Government consulting

Cryptobuyer has been operating since 2015 as a complete ecosystem that includes a web platform with more than 50,000 registered users, cryptocurrency ATMs and Points of Sale (Cryptobuyer Pay solution) all in operation in various locations in Latin America. This includes more than 200 stores and retail chains. The Cryptobuyer Pay solution allows any business to receive payments in cryptocurrencies without exposing themselves to the volatility in a super simple and efficient way. Their focus since the beginning has been maintaining the infrastructure they created, optimizing it and growing to provide value to shareholders, investors and their users.

Cryptobuyer has amongst its clients Traki, the largest retail chain in Venezuela with 46 superstores, that has found the company’s solution a real and functional alternative to the problems of hyperinflation and shortage of cash. It has thus become a real use case in one of the places where it is most needed in the world. It also provides services to Panama and Costa Rica for hotel chains and tourism companies that identified the niche of digital nomads — travellers who use digital assets for their daily expenses while working remotely.

Cryptobuyer recently announced the launch of Binance Coin (BNB) integration in its Point of Sale solution and were also recently included in Changpeng Zhao’s (Binance CEO) report of growth in the Binance ecosystem.

Binance is the world’s largest cryptocurrency exchange by trading volume and is dedicated to facilitating cryptocurrency adoption, with activities of different types carried out in more than 27 countries with important achievements such as the launch of fiat-to-cryptocurrency gateways in Uganda, Jersey and Singapore and a blockchain-based donation platform which has benefited over 36,000 end beneficiaries.

Moving forward, the next steps include integrating BNB to the rest of Cryptobuyer’s current and future products. Cryptobuyer will also be submitting a proposal to list XPT, its native token, on Binance DEX and will be applying for the Binance Labs Incubation Program Season 3.

The company is in the process of expanding its proven business model to Mexico, Argentina and Spain. Cryptobuyer’s offerings are in demand in these countries as cryptocurrencies are considered a more viable mechanism for remittances and payments.

Additionally, Jorge Farias, the CEO of Cryptobuyer, has travelled directly to Venezuela, where the total adoption of cryptocurrencies is imminent. Whilst there, he has been on a media campaign with the most important and influential communicators, reporters and personalities and has recently attended an event hosted by the second-largest bank in the country. During this event, he met with executives and assistants and detailed the work that has been done for the adoption of cryptocurrencies as a form of mass payment.

There has been an exponential growth in Venezuelan cryptocurrency transaction volumes and other countries in the region. Cryptobuyer is thus focusing on accelerating its strategy to dominate these markets with their real and tangible product offerings. Joining forces with the likes of Binance can only help to advance this directive. Binance and Cryptobuyer both share a vision of real and global adoption of cryptocurrencies, especially in countries where they are really needed. They have just recently hosted joint meet-ups in Caracas and Panama and intend to grow their presence and services in these areas.

Cryptobuyer also managed to secure a major partnership with AirBNB competitor, Selina (referenced on sites like Forbes and Tech Crunch). Selina is a hotel chain focused on millennials and digital nomads and is considered one of the biggest competitors of AirBNB. They recently received more than 220 million dollars in investment. They have locations in places like Miami, New York, Cancun, Panama, Costa Rica, Brasil, Portugal and Medellin, with an aggressive expansion plan to open 45 new locations in the coming months. Their backers include Abraaj Group and WeWork CEO, Adam Neumann.

Selina’s partnership with Cryptobuyer will meet the needs of their clients who view cryptocurrencies as an efficient payment solution that allows them to travel to various countries without having to worry about currency conversions in each of the different countries. Cryptobuyer ATMs will be installed in various locations with a view to expanding services to all locations in the chain. The offerings will give users the option to pay in Bitcoin, Litecoin, Dash or Cryptobuyer’s native token, XPT.

In continuing in its search for valuable partnerships, Cryptobuyer has also joined forces with Verifone, a major global Point of Sale hardware manufacturer, in a bid to develop a physical solution for one of Cryptobuyer’s biggest clients — more details will be announced soon. This partnership opens up the possibility of market expansion to a possible 100,000 new locations.

Cryptobuyer has also been consulting with the Panama government as they are looking to explore blockchain solutions to introduce greater transparency in their bidding processes. Cryptobuyer has held various conversations with multilateral organizations in order to advise and provide education on possible new governmental initiatives. They will continue to update us on this front.

From all of the above updates, it is evident that Cryptobuyer has been hard at work in their search for new business opportunities, partnerships and investors. We will continue to monitor Cryptobuyer’s developments and update our tokenholders on their initiatives going forward. We will also continue to provide assistance wherever we can.

Kind regards,

Zulekha Cara and the Invictus team