Latin American cryptocurrency exchange Bitso has announced the imminent launch of a new digital asset payment in Argentina.
Goods and services can be paid for using a QR code. Support for the payment system should be added to Argentina’s popular supermarket chains, restaurants and shops. Paying with cryptocurrencies is designed to help users protect themselves from rising inflation and the volatility of the Argentine peso. The payment system should be included in the work on September 27.
“The idea is to make cryptocurrencies more useful and available in different stores. The system will allow citizens of Argentina to use cryptocurrencies for daily payments,” said Santiago Alvarado, Senior Vice President of Products at Bitso.
Argentina already has fiat payment systems using Mercado Pago and Modo QR codes. This country occupies a leading position in Latin America in terms of the penetration of payments using QR codes. The Bitso mobile app will be able to use codes to pay in cryptocurrencies. In the future, support for QR codes and other systems will be added. At the same time, pesos will already be credited to the accounts of the stores – the conversion will take place automatically.
In May, it was reported that the Bitso exchange was laying off more than 80 people due to the fall of the cryptocurrency market.