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Argentine Bank began to implement international transfers using bitcoin

It will be used as an alternative to the interbank Swift system.

22.May.18 8:25 AM
By Johnatan Toadlicker


Argentine Bank began to implement international transfers using bitcoin
The clients of the Argentinean bank Banco Masventas will have the opportunity to make international transfers with the help of bitcoin: the credit organization agreed with the Bitex exchange, founded several years ago.

This is the first example of using bitcoin by a local bank for international transfers. One of the shareholders of the Argentinean bank Jose Dakak believes that this is a contribution to the development of digital technologies. Besides, this method will reduce the commission of cross-border payments.

"One of the steps taken was the conclusion of a strategic agreement with Bitex and the use of the Bitex platform for sending/receiving money from our customers abroad," said a spokesman for Banco Masventas.

It is possible to make such a translation from now on - May 22. Clients will not work with bitcoins directly. As representatives of the Bitex exchange explained, they will first apply to the bank with a request to send an international payment, and the bank will already apply to the transaction.

"Our clients get transparency, they do not work with bitcoin and do not see it. We provide them with a service, but they do not come into contact with bitcoin, "the company says.

By the way, experts are sure that large international banks will soon start trading the cryptocurrency.

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