Argentina’s two largest banks, Banco Galicia and Brubank, have declared that they will allow customers to make crypto purchases.
According to reports 60% of respondents to an Argentinian poll requested for more access to crypto, which initiated the banks’ decisions to begin allowing crypto trading.
The South American nation has the sixth-highest crypto adoption rate in the world. Data and survey conducted by research firms showed that 21% of Argentines had used or owned crypto by 2021.
Allowing customers to purchase Bitcoin and other crypto through their bank could help Argentines stay ahead of the crushing inflation in the country. Last month, the town of Sorradino in Argentina purchased mining rigs and planned on starting a mining operation as a way of earning Bitcoin to fight inflation. Its income from mining was estimated to be several hundred United States dollars per month.
Considering the high adoption rate, the mayor of Argentina’s capital Buenos Aires announced late last month that the city would begin accepting crypto as payment for public financial services.
