Ripio, a new Bitcoin brokerage service offered by BitPagos, has launched in Argentina.
The service will open up new markets for Bitcoin in Argentina by allowing consumers to purchase bitcoins at more than 8,000 convenience stores nationwide.
To facilitate this, Ripio has partnered with Argentine mobile phone provider TeleRecargas, which allows its users to purchase prepaid cell phone plans at convenience stores with whom they have partnered.
Currently, only Argentinians can enjoy Ripio’s service, though BitPagos is considering opening it up to other markets throughout Latin America.
South America’s Bitcoin Fortunes
This positive news comes amid a period of uncertainty about Bitcoin’s future in South America.
Recently, both Bolivia and Ecuador declared an all-out ban on cryptocurrency, the latter claiming it was creating its own state-backed virtual currency.
Meanwhile, Argentinian exchange Unisend had their bank accounts shut down amid dubious circumstances.
BitPagos’ new service through Ripio, though, is designed to serve those who have little or no access to banks in Argentina, a surprisingly large demographic for those in the developed world.
And while things may seem unstable currently in South America, business and innovation continues on in spite of it. Services like Ripio will help open up Bitcoin to massive new markets through increased access and exposure.
Argentina’s economic situation is currently precarious, with massive inflation hitting the Argentine peso. As a result, it seems like a ripe opportunity for a deflationary currency like Bitcoin to take hold. And BitPagos is in the perfect position to do so.
BitPagos Brings Bitcoin To Convenience Stores Across Argentina With Ripio
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