Argentina's largest banks launch Bitcoin (BTC) and Ethereum (ETH)

The two largest banks in Argentina have announced that they want to enable their customers to trade certain cryptocurrencies with immediate effect.

As Bloomberg reported on Monday , 60% of Argentines now demand direct access to the crypto market, which is believed to be the driving force for Banco Galicia and Brubank in this decision.

Ignacio Carballo from the market research institute Americas Market Intelligence confirms via a screenshot on Twitter that Banco Galicia has already included the purchase of Bitcoin ( BTC ), Ether ( ETH ), USD Coin ( USDC ) and Ripple ( XRP ) in its online banking.

In any case, cryptocurrency adoption is already high in the South American country, with Argentina even ranking a strong sixth globally in terms of adoption rate. According to Statista data , almost 21% of all Argentines will have bought or traded cryptocurrencies by 2021.

And the population has good reason to do so, because the Argentines want to use Bitcoin and Altcoins to defend themselves against the rapidly increasing inflation in their country. Economic data service Trading Economics put inflation at 55% for April , showing that these fears are more than justified. Above all, market leader Bitcoin is repeatedly cited by many experts as a hedge against inflation.

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