In Argentina, users are now able to pay for public transport using Bitcoin (BTC). In order to offer this service, two Argentinian companies, Alto Viaje and Bitex decided to work together and connect the public transport to the crypto industry. The information was released by the local news site Cripto247.
Since today February 6, users in 37 Argentinian cities will be able to pay the public transport in Bitcoin. Nowadays, to use these services, Argentinians have a transport card called SUBE. The card has funds that are debited every single time they use the metro or a bus.
Alto Viaje is a platform that allows users to send funds to the SUBE card through their online platform. Bitex is one of the largest crypto-related companies in Argentina and it offers blockchain and Bitcoin solutions in Argentina and other countries in the region and around the world.
Manuel Beaudroit, the CMO of Bitex, mentioned about it:
“We believe that these projects are very important since they bring a technology as disruptive as Bitcoin to the common people, demonstrating the real value and the applications that it has in everyday life.”
At the moment, the minimum payment is AR$ 50, close to U$D 1.33. Thus the minimum payment that can be processed using Bitcoin is 0.00039 BTC. However, a bus ride in the City of Buenos Aires costs AR$ 18 ($0.48 or 0.00014 BTC).
Alto Viaje is currently offering payments via PayPal and Bitex. In the future, users will also be able to pay through RapiPago, a local payment services provider.
Bitex has the necessary market penetration in Argentina in order to process all the payments and connect Alto Viaje with crypto users that want to pay for public transport in digital currencies. Luciano Verardo, Director at Alto Viaje, said that the company wants to offer safe and innovative services, this is why they have partnered with Bitex, allowing individuals to pay with BTC.
Some of the cities that will allow users to pay for public transport using Bitcoin are Bahía Blanca, Buenos Aires, Neuquén, Pianamar, Rawson, Trelew, Ushuaia, Viedma and many other places.
Bitex launched in 2018 a new service that allows bank users to send funds to other countries using Bitcoin. The Banco Masventas became one of the first financial institutions using Bitcoin to process international payments, reduce transaction times and reduce costs.
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