Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Both Argentine banks have reportedly partnered with Lirium to offer a new cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. investment service.
Two banking institutions have just become the first in Argentina to offer services for investment in cryptocurrencies.
Banco Galicia Argentina’s largest private bank, added on Monday a new feature that allows customers of the financial institution to operate with Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. and other digital currencies. According to screenshots shared by some Twitter users, the bank’s online application is now offers an option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. called ” Cryptos “, which allows you to buy, sell and hold various cryptocurrencies.
Although there has been no official announcement, reports reveal that the new service allows customers of Banco Galicia invest investing is when you put money in a financial scheme with the intent of making a gain. and hold at least three cryptocurrencies: Bitcoin (BTC), Ethereum a decentralized open-source blockchain with smart contracts functionality. (ETH), and XRP, fromRippleas well as the stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. USDCoin (USDC), which maintains parity with the US dollar.
Reports also suggest that the new cryptocurrency offering comes in partnership with Lirium a Liechtenstein-based crypto solution for digital wallets and mobile banking applications. The official Twitter account an account is essentially a whose purpose is to track the financial activities of a specific asset/ of Banco Galicia confirmed the existence of the new feature.
With no official announcement other than responses on Twitter, Banco Galicia ???????? launched the buy/sell/custody crypto service with Lirium, a white label exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. based in Liechtenstein???????? founded by Argentines.
– Maximiliano Firtman (@maxifirtman) May 2, 2022
Two Argentinian banks jump into crypto
Apparently, Banco Galicia was not alone in taking a first step into the digital currency currency is a medium of exchange that defines value. space. According to a report in local news agency Clarín the financial services company Brubank also joined this trend.
Although details are scarce, reports suggest that Brubank también ha empezado a ofrecer servicios para la compra/venta de criptomonedas desde su aplicación de banca móvil. Al igual de Banco Galicia it was reported that the entity has partnered with Lirium to allow its users to interact with cryptocurrencies . The medium iProUp also reviewed the news.
The move makes both banks the first in Argentina to dabble in cryptocurrencies and offer their clients exposure to the new asset class. However, the feature might not be available to everyone, at least in the case of Banco Galicia .
According to Infobae the bank belonging to the Galicia Financial Group will initially open the service to a select group of customers. “ Galicia wants to prevent the volatility a statistical measure of dispersion of returns, measured by using the standard deviation or variance between returns from that same security or market index. of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets to catch unprepared customers unaccustomed to operate with them and therefore will restrict the alternative for a specific segment of holders of investment portfolios. “, said the media.
On the other hand, screenshots of the new service also suggest that customers who have access to cryptocurrency trading will not have the ability to withdraw their cryptocurrencies to external wallets, some users noted on Twitter. Instead, they will have to keep their purchases of Bitcoin and other cryptos under the custody custody is a financial institution's legal capacity to keep and preserve financial assets for its clients to avoid asset theft or loss. of the bank.
As he recalled Bloomberg and Línea the director of Galicia Financial Group Fabian Kon, had already advanced in an interview in August last year about the bank’s interest in integrating cryptocurrencies. However, at that time Kon had stressed that the company did not have any concrete project and that they were “ a little bit a bit is a basic unit of information in computing. far “of its implementation.
According to reports, the entities are expected to make an official announcement later this afternoon.
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Article by Hannah Estefania Perez / DiarioBitcoin
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