The Argentine banks – Banco Galicia and Brubank – have partnered with crypto wallet Lirium to provide crypto trading services to their clients starting Monday.
Two banks in Argentina will be allowing their clients to purchase cryptocurrencies via their official websites. The pair are Banco Galicia – the nation’s largest private bank in terms of market value, and Brubank – a fully digital bank.
The two entities have partnered with the crypto wallet Lirium for the new service, which will reportedly be available to clients on Monday. For Banco Galicia, the feature will first be available to customers whose salaries are directly deposited to the bank.to Bloomberg, Banco Galicia’s decision was fueled by high customer demand, especially from the younger generations.
Two officials from the bank – Ariel Sanchez, the manager of investment products, and Nicholas de Giovanni – confirmed this, adding:The report also cited data from Chainalysis, which claims that Argentina is among the countries leading in terms of cryptocurrency adoption, ranked at 10th space worldwide.Research conducted by the marketing communications agency Wunderman Thompson further noted that Argentinians are motivated to acquire cryptocurrencies due to the rising inflation – 50% per annum.
America’s oldest bank – BNY Mellon – is one of the leaders in terms of digital asset adoption, having with Grayscale, participated in crypto-related funding rounds, and launching its own set of such services.
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