Giant Cryptocurrency Exchange Launches Crypto QR Payments In Argentina!

bitso In the wallet app, Argentina shoppers can find many supermarkets, restaurants and other stores across the country. cryptocurrency A new system that allows you to pay with QR coded will launch the payment instrument.

Cryptocurrency Exchange Bitso Introduces Crypto QR Payment Tool in Argentina

This step will offer an alternative to the peso as inflation hits the economy in the country.

The Latin American-based crypto exchange, which has more than one million customers in Argentina, will gradually start offering the QR code option to users from September 27.

“The goal is to make crypto more useful in more places and enable all citizens to live their lives with crypto by purchasing everyday services,” said Santiago Alvarado, Bitso senior vice president of products.

QR codes offer an additional option for Argentine consumers to save on crypto and spend while visiting physical stores.

This is especially important as inflation in the country has approached 80% compared to last year and the purchasing power of the peso has decreased.

Many shops in Argentina already offer the option to pay in fiat currency via QR codes.

Bitso’s wallet app will be able to scan these QR codes and give users stablecoins pegged to US dollars, stablecoin, Ethereum, bitcoin or in Argentine pesos.

QR codes have become a popular payment method in Argentina.

Argentina has become the country with the highest QR code usage rate in Latin America, according to the news of the local economy publication El Cronista, based on Mastercard data in August.

Argentina also ranked 13th in Chainalysis’s 2022 global crypto acceptance index.

*Not investment advice.

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