digital peso; to enable Filipinos easily access financial services

A Chinese cryptocurrency firm is planning to help Filipinos abroad to remit cash back home easily and cheaply. Huaren Capital president Jeff Wang told reporters in the Philippines that they were still in talks with potential partners. The firm will launch a digital peso to facilitate transactions. According to Wang, Bangko Sentral ng Pilipinas (BSP) is among the potential partners. Further, Wang noted that the biggest problem with Filipinos is that most of them lack bank accounts. A digital peso for everyone Therefore, they are mostly outside the financial industry.…

OKCoin Adds the Argentine Peso as It Eyes Expansion Into Latin America

Despite a prolonged cryptocurrency bear market and regulatory uncertainties, OKCoin, one of the largest cryptocurrency exchanges in the world, is expanding to Latin America launching a new exchange platform headquartered in Buenos Aires, Argentina. Already active in 110 countries and 21 U.S. states, OKCoin USA CEO Tim Byun told Bitcoin Magazine that he is not worried about market volatility as they launch on a new continent: “Overall, we are very bullish on the cryptocurrencies markets throughout the world and in Latin America in particular. The growth might not be perfectly…

Argentina: Cryptocurrency ATMs to exploit peso volatility

Argentina could get up to 30 automated teller machines that buy and sell bitcoin by the end of the year, industry representatives said, an expansion of the cryptocurrency market amid an economic crisis that has seen the peso’s value tumble. Athena Bitcoin, a U.S. company that specializes in cryptocurrency ATMs, launched Argentina’s first bitcoin ATM last month in a Buenos Aires shopping mall, a company spokesperson told Reuters. Another company, U.S.-based Odyssey Group, said of the 150 ATMs it aims to install by the end of the year in Argentina,…

Bitcoin ATMs Flock to Argentina as Peso Dives, Inflation Soars

With inflation in Argentina expected to rise above 40 percent before the close of the year, the demand for bitcoin in the South American country has surged, resulting in cryptocurrency ATM firms projecting a large increase in the number of devices they plan to install in the country. Argentina Prime Real Estate for Bitcoin ATMs Currently, there are only two bitcoin ATMs in Argentina, both of them located in the country’s capital Buenos Aires, but by the end of the year, this figure could rise to 30, according to Reuters.…

Argentinean Investors Favor Bitcoin As Peso Plummets

Argentina is going through an economic crisis, which is why many Argentineans favor Bitcoin (BTC) over the Peso to store capital. The intention is to protect their wealth. However, the heavy rush to secure money by buying Bitcoin has led to a rise in the prices of cryptocurrencies. Interestingly, there are some positive developments in favor of the virtual currencies. To meet the growing demand for Bitcoin, 12 BTC ATMs started their operations in a mall in Buenos Aires recently. Even the number of stores ready to accept cryptocurrency as…

Crypto Interest Rises As Argentine Peso Collapses, Joins Venezuela As Monetary Policy Basket Case

Crypto Interest Rises As Argentine Peso Collapses, Joins Venezuela As Monetary Policy Basket Case September 4, 2018 by Paul de Havilland As the Argentine peso collapses, locals are turning to crypto. Having lost 50 percent of its value against the U.S. dollar this year, the peso continues to slide. Evidence suggests Argentines are looking to cryptocurrency as a store of value, just as their counterparts in Venezuela are doing, with Dash and bitcoin both benefiting from the flight to quality. Also see: Big Blockin’: Bitcoin Cash Stress Test Day Produces 15…