Argentine banks launch crypto trading features

What

Two banks in Argentina have launched crypto trading features on their platforms

Why

Banco Galicia, Argentina’s largest private bank by market value, said the decision was prompted by high customer demand revealed through a recent survey

What next

This move will allow citizens an additional option in addition to purchasing crypto through wallets or directly 

The Story

Banco Galicia, one of the largest private banks in Argentina, and digital bank Brubank have announced the addition of crypto trading options to their respective platforms.

In a statement from the Banco Galicia, it was confirmed the bank was motivated to make this change after 60% of respondents to its survey asked for easy access to crypto through their banks. 

The adoption of crypto by regulated banks is spreading from Argentina to the rest of the region, according to the press office for Brubank, a digital, regulated bank launched in 2017.  which also confirmed its own launch. 

Both banks also confirmed that all crypto will be purchased through the same platform its clients use to buy bonds or stocks. Prior to this, Argentine’s only option to purchase crypto was through wallets or directly from holders.

Argentina is among the world’s top countries with high cryptocurrency adoption and is more entrenched with digital assets than most, with the highest proportion of employees receiving their salaries in Bitcoin and other cryptocurrencies.

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