Bitfury launches bitcoin transaction processing in Paraguay

Bitfury partners Commons Foundation to launch Bitcoin operations in Paraguay

Bitfury launches bitcoin transaction processing in Paraguay. Source: shutterstock.com

The Bitfury Group and the Seoul-based Commons Foundation announced a partnership to open and operate bitcoin transaction processing centers in Paraguay as part of the foundation’s “Golden Goose” initiative to expand cryptocurrency and blockchain innovation in Spanish-speaking countries.

Together, the companies will build a series of transaction processing sites in Paraguay, all using Bitfury’s BlockBox AC mobile datacenters. The sites will be powered by clean energy at the hydroelectric power plant Itaipú, the world’s largest operational hydroelectric energy producer, and Yacyretá with 20 machines fully in production. Paraguay currently only uses about 50% of the clean electricity produced by the two power plants.

We are honored to be bringing our bitcoin transaction processing capabilities to Paraguay in partnership with one of Korea’s most forward-thinking organizations. Our combined expertise and shared vision to provide best-in-class cryptocurrency solutions will ensure that success of this exciting new venture
Eun Lee, Head of Bitfury Korea

Commons Foundation also plans to launch a global cryptocurrency exchange in late 2019 to bring further innovation to Paraguay and help build a blockchain ecosystem in Latin America. The exchange will use Bitfury’s Crystal analytics platform to conduct KYC/AML procedures for its clients.

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