Columbia’s first bitcoin exchange Colbitex has released its platform in testnet mode last week. The exchange seeks to offer Colombian citizens a simple and efficient platform to exchange Bitcoin to Columbian pesos (COP), NewsBTC reported.

The startup wants to develop a robust bitcoin exchange in the region to familiarize locals with the digital currency, as well as to spread awareness about the benefits of using bitcoin to settle both international and local transactions.

The testnet version is currently not able to handle transactions and settlement orders. NewsBTC reports that the company plans on releasing a beta version of the platform soon, which will allow users to trade Bitcoin to Colombian pesos easily.

Roman Parra, an industrial production engineer and marketing specialist, and Carlos Mesa, a computer systems engineer, are the people behind this project.

Speaking with Diario Bitcoin, Parra stressed on the importance of establishing an exchange that fully complies with the region’s financial regulations. He wants to develop such a platform that enables users to trade Bitcoin without being restricted by the local authorities.

“Colbitex is a generated technology platform and is backed by a real company, formally constituted in Colombia and compliance with current applicable regulations, from the point of legal, tax and commercial view,” said Parra during an interview with Diario Bitcoin, as reported by NewsBTC.

Cryptocoinsnews reported that the founders – Parra and Mesa – also plan to add some sort of “alarm mechanism” to alert users in case of suspicious account activity. In the future, the company plans to expand to other countries as well.