Argentina's Top Two Banks To Facilitate Crypto Purchases By Customers

Argentina's largest bank Banco Galicia and its fastest-growing challenger, digital bank Brubank, both decided to start allowing their customers to acquire cryptocurrencies such as Bitcoin BTC/USD.

What Happened: The two banks made the decision after 60% of the respondents to a Banco Galicia survey asked for easy access to cryptocurrencies through their banks, according to a Tuesday Bloomberg report.

Ignacio Carballo, a specialist at market research firm Americas Market Intelligence, confirmed in a Tuesday tweet with screenshots of Banco Galicia's interface showing the options to acquire Bitcoin, Ethereum ETH/USD, USD Coin USDC/USD and Ripple XRP/USD.

See Also: How To Earn Free Crypto

Argentina is ranked sixth in the world for its rate of crypto adoption, with Statista estimating that 21% of Argentines had used or owned crypto by 2021.

Cryptocurrencies and stablecoins could provide a handy escape route from the rapidly inflating Argentine peso, considering Argentina’s inflation rate being estimated to be 55% back in April.