Argentina’s largest banks allow crypto trading

Four different cryptocurrencies bitcoin (BTC), ethereum, USD Coin and XRP will be available to customers of Argentina’s largest private banks Banco Galicia, and the Brubank.

As per a Bloomberg report yesterday, 60% of those who took part in an Argentinian poll wanted better access to crypto. The report swayed the banks’ decisions to enable customers the option of crypto trading.

Screenshots posted by customers on the social media account Twitter, showed confirmation and evidence that the banks had started supporting the four aforementioned cryptocurrencies.

Data and survey firm Statista estimated that 21% of Argentinians had either owned or used cryptocurrencies in 2021 alone. The nation currently has the sixth-highest crypto adoption worldwide.

Last month saw Argentina hit a 55% inflation rate as per data analysis from economic data tracker Trading Economics. Customers having the option to purchase BTC may see the people of Argentina tackle such inflation in the country.

Buenos Aires has currently been on a mission to support its civilians and use the advancement of technology to improve city government. Recently the city’s mayor Horacio Rodriguez Larreta announced plans to enable everyday payments including tax payments to be paid in BTC.

Alongside this, it has been reported that Argentina will be implementing new anti-money laundering (AML) laws to eliminate any money laundering risks in the country.

You can still enjoy your crypto at Bitcasino, 1xBit and FortuneJack and play the games available there.

Source

Updated: 05/03/2022 — 13:00