One of Argentina’s largest financial services providers now supports Bitcoin, XRP and other cryptocurrencies
It partnered with Lirium AG, a company offering plug & play crypto solutions for banking intuitions, in order to enable the new service.
Banco Galicia serves more than four million retail and corporate customers. It boasts about 600 branch offices around the globe.has been one of the top countries in terms of cryptocurrency adoption due to its high inflation. According to data provided by Deel, it has more employees who are getting paid in digital assets than any other country in the world.
Yet, Miguel Pesce, the head of Argentina’s central bank, said that cryptocurrencies were concerning. He argued that digital assets were being used for circumventing exchange controls. Earlier this year, Argentina’s central bank reportedly started working on creating a group that will improve know-your-customer rules for digital wallets.
Moreover, the recent $45 billion bailout deal with the International Monetary Fund might pose a major hurdle to cryptocurrency adoption in Argentina since it will make the government adopt an anti-crypto stance.
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