This week, the Superintendency of Institutions of the Banking Sector of Venezuela (Sudeban) authorized the owners of Shasta App to operate in the country.
It is a digital currency management tool, which comes to help those Venezuelans who do not have a bank account abroad.
Thanks to the authorization of Sudeban, Shasta will be able to function as a branch of the processor, issuer of national and international cards and electronic payment, and thereby legally start operations in Venezuela, giving its users the possibility of making transactions under the modalities of its technological platform, through strategic alliances with national and international banks.
Users who wish to be part of this platform will have the issuance of an international Visa or Mastercard, in addition to a QR code that will allow them to mobilize their funds and use them both in Venezuelan territory and abroad.
The innovative application has been developed since 2018 by the young Spanish Alex Sicart and the Venezuelan entrepreneur Leonardo Montbrun. Its download is free through the App Store and Google Play.
“When we developed this application, our business model covered only Europe, after several market studies and evaluating the possibilities of giving international financial tools to our users in another region, we made the right decision to expand our services to Latin America”, says Leonardo Montbrun.
Source: Diario El Vistazo