Bitcoin Valley _ 25-05-2018

First time a national bank adopts bitcoin for cross-border payments

Argentina, despite the period of economic difficulty, consolidates pro-Bitcoin with a project that opens the way to new possibilities.

Banco Masventas, Argentine national bank, could be the first to launch a series of successful partnerships between national banks and innovative uses of cryptocurrency. Through the bank's support for an exchange, it is now possible for Argentina to transfer cross-border payments at costs and times much lower than those that we have known until now. A change of paradigm for the benefit of everyone, bitcoiner and not.

The novelty lies in the fact that to transfer money from one part of the world to another, through bitcoin, you will not need to use your own. You can go to the bank, without changing your habits, deposit your money and it will be converted and moved to bitcoin. Once the value has been transferred to Blockchain, it will again be possible to withdraw the value as a beneficiary again in traditional currency. In practice it will be possible to deposit fiat currency in a state, convert its value into bitcoin, transact from the other side of the world and immediately convert it into another fiat currency.

The advantages? Minor costs, restriction of waiting times and a new boost to the financial system that through the use of Bitcoin Blockchain technology will benefit from a great help in favoring trade and exports, thus improving the country's conditions. An Argentinean experience that inbitcoin hopes will soon become a reality also in Italy.

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