Public transport facilities in 37 localities across Argentina will now accept Bitcoins, thanks to a collaboration between Alto Viaje, who provide the travelcard-loading platform, and Bitex, a fintech company.
Manuel Beaudroit, CMO of Bitex, explained:
“We believe that this type of project is of great importance since it brings technology as disruptive as bitcoin to the common people, demonstrating the true value and the applications it has in everyday life.”
Argentina is in the middle of a financial crisis right now. Many citizens have turned to Bitcoin to preserve their wealth. Trading volumes in the LocalBitcoins exchange have soared and the number of Bitcoin ATMs in the country has increased dramatically over the past few months. According to coindance, Argentina has traded 245 BTC since the beginning of the year via LocalBitcoins, that’s $833,000 in present valuation.