Bitcoin News and Finance
Cryptocurrency Exchange Bitso Launches Interoperable QR Payments in Argentina Skip to main content

Cryptocurrency Exchange Bitso Launches Interoperable QR Payments in Argentina

bitso

Bitso, a Mexico-based, Latam-focused cryptocurrency exchange, has launched an initiative that aims to allow Argentines to use crypto for their everyday purchases. The exchange is introducing QR payments directly in its app, which will be interoperable with other platforms already using this method of payment in Argentina.

Bitso Seeking to Drive Crypto Payments in Argentina

Bitso, one of the biggest exchanges in Latam, with more than 5 million customers, is extending its focus on payments in Argentina. The exchange has launched one of the first interoperable QR payment systems of its kind in the country, hoping to attract more Argentines to use crypto as payment.

Argentine customers of the exchange will be able to use their balances of Argentine pesos, stablecoins, bitcoin, or ether to pay at any of the merchants that have QR code payments activated. Depending on the currency, Bitso will manage exchange rates to exchange these cryptocurrencies and deliver Argentine pesos to the merchant.

Bitso aims to expand this initiative to other countries, but Argentina was selected as the first due to its very high level of adoption of QR payments. According to the company, 59% of Argentines have used QR payments in the last year, compared to 34% in Latam. For Argentina, these numbers are expected to reach more than 80% next year.

Combining Savings With Payments

Argentina is currently battling the adverse effects of high inflation levels in its economy. The country registered a Consumer Price Index (CPI) of almost 80% in August, one of the highest in the region. Projections estimate that the CPI will exceed the 100% mark in December.

Also, the devaluation of the national fiat currency as a result of political turmoil has led Argentines to take refuge in stablecoins. However, Bitso wants Argentines to combine the savings utility of crypto with its payments capabilities to facilitate use and avoid manual exchange when paying.

Santiago Alvarado, senior vice president of product at Bitso, stated:

This is an especially important product offering for Argentina as it provides users protection from the adverse economic factors such as inflation and currency devaluation. In addition to increasing financial opportunities for users, Bitso is fulfilling its mission to make crypto useful.

The product will be activated gradually for all Argentine customers starting September 27.

What do you think about the launch of interoperable QR payments by Bitso in Argentina? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory