Argentina’s Public Transport Card Now Accepting BTC
Bitcoin has once again made some significant progress after its adoption across Latin America – particularly Argentina and Venezuela. Most of this progress is due to the fact that the economies of these countries have plummeted dramatically, thus citizens are looking for alternative currencies. This would include the likes of the U.S. dollar and cryptos such as BTC and privacy-centric Dash.
Loading SUBE Cards With BTC
Following the huge adoption of metrics in terms of digital currencies, the government of Argentina has made a huge step towards the crypto space. According to the official report, citizens of the country are now allowed to load up and/or activate their smart and contactless transportation cards with the world’s leading digital currency Bitcoin.
The move was reportedly promoted by the Argentine Secretary of Transportation. As such, users of SUBE or Sistema Unico de Boleto Electronico cards will have the ability to recharge their cards with the above-mentioned popular crypto. The integration has been made possible through the partnership with Alto Viaje, which is an online card funding platform, and fintech startup Bitex.
As per the statistical report from the Argentine government, SUBE cards services are being accessed across 37 cities in the country, including the capital called Buenos Aires. Users utilize these cards for the purpose of paying services provided through motorboats, subways, trains, and buses. The partnership, in particular, went to full effect on Thursday, February 7th.
Improving People’s Lives
According to Manuel Beaudroit, the CMO of Bitex, the company believes that this type of project serves huge importance. It will be responsible in bringing technology like the disruptive Bitcoin to the common folks. And with that in mind, it clearly demonstrates the true value and the many applications it brings to people’s everyday life.
For Luciano Verardo, the Directory at the Argentine Transportation Ministry, his sentiments shares the same concept with Beaudroit’s. Verardo is hoping that through this project, they could offer safe and innovative services. The alliance they have made with Bitex, for instance, will allow the government to integrate payment using the titular digital currency. At the same time, the partnership will bring brand new possibilities when it comes to financial inclusion.
As previously reported, Argentina is currently undergoing severe inflation. Hence, some citizens have decided to acquire BTC, as they aim to preserve their wealth. In the past, however, they had to cash back to fiat just so they can spend this virtual currency. Now, they have a solid reason not to do such, especially since they can directly recharge their smart cards without the need to convert to fiat.