The importance of digital money is gaining strength in many countries due to its soaring benefits and the unprecedented tech behind it. Argentina is also among the ones like Venezuela which is embracing cryptocurrency to fight against the rising inflation.
The South American country has publicized its new move of accepting Bitcoin as a payment mode through SUBE cards in 37 places for public transport services. The Recent update announced by an online media outlet Cripto247.
The provision has become possible after the joint efforts between Alto Viaje- a provider of travelcard-loading service and Bitex- a blockchain fintech startup.
Beaudroit, CMO of Bitex, believed that: “For demonstrating the true value and the application of disruptive technology and to make bitcoin available to the common people in everyday life this project is of great importance.”
Now, by topping up SUBE cards with credits at all subte stations, national lottery outlets including some kiosks with automated terminals people can easily pay for hassle-free travel service. The SUBE website has also announced a map of SUBE vendors to locate the nearest point of sale.
Luciano Verardo, Director of Alto Viaje, mentioned:
“From Alto Viaje, we want to offer safe and innovative services, the alliance with Bitex allows us to integrate the payment with bitcoins and new possibilities of financial inclusion for people and companies.”
Bitcoin (BTC) Payment Through SUBE Cards
SUBE card facilitates customers to pay for trips in groups, subways, and trains. Reportedly, at present this facility can be exercised in 37 places of the country:
Metropolitan Area of Buenos Aires,
Party of the Coast,
Roque Sáenz Peña,
San Carlos de Bariloche,
San Martin de los Andes,
San Nicolás de los Arroyos,
Santa Fe from Vera Cruz,
Adoption of Bitcoin (BTC) AS Payment Option in Argentina and Globally
If we look at the global industry scenario and the adoption of Bitcoin as a payment option is downright low and slow. But with time and education, it is gaining the support of the economists, govt. personnel along with the public. The blockchain tech and cryptocurrency would certainly take time to get into the mainstream and thereon achieve the mass adoption. Countries like Japan, Singapore, Australia, Argentina are amongst others have already taken the extraordinary despite challenging and forward-looking step of accepting bitcoin as a payment option for various services by collaborating revolutionary and trustworthy infrastructure providers which are making the significant decisions implementable.
The latest move by the country cannot be considered a futile initiative for conventional thought leaders. In fact, the consensus can play a catalyst for other nations and a knocking factor to understand the prominence of digital assets and a serious push into the mainstream.