The public transport system in Argentina, the second largest country in South America, is now officially accepting cryptocurrency payments including Bitcoin (BTC) from passengers and travelers in 37 localities across the country. Passengers can now add credit balance to their SUBE travelcards with digital currency.
The crypto payments were incorporated into the SUBE travelcards via a partnership with Bitex – a fintech company, and Alto Viaje – a local travelcard loading service.
The SUBE cards can be topped up with credit at every station that supports the initiative, including kiosks that have computerized terminals, and many national lottery outlets, as Cripto247 reports. The verified SUBE website gives a clear map of all SUBE vendors in the country to enable turn up to the nearest point-of-sale (PoS).
Bitex offers the payment facilities, such as API integration, that is needed by the organisations to accept BTC payments from clients. In the meantime, Alto Viaje wants to form the card-loading exercise as convenient and commodious as possible for all Argentina’s citizens. Before Bitcoin payments were incorporated, SUBE card customers were only in a position to use PayPal to make payments.
Currently, Argentina is entangled in a financial crisis that has led to high levels of inflation. Given the absence of trust and confidence in Argentina’s financial structure, many citizens have begun using cryptoassets as a medium-of-exchange (MoE) and others have used it as an asset class which will assist them to broaden their investment portfolio.
Below are the 37 cities which support payments with Bitcoin for Public Transportation
Partido de la Costa,
Roque Sáenz Peña,
San Carlos de Bariloche,
San Martín de los Andes,
San Nicolás de los Arroyos,
Santa Fe de la Vera Cruz,
Trading volumes, especially on peer-to-peer cryptoasset exchanges such as Localbitcoins, have surged significantly in the last few months and many BTC Automated Machines (ATMs) have been placed across Argentina, many of these BTC ATMs or BTMs are found in the country’s Capital: Buenos Aires. In late December last year, 8 new digital currency ATMs were also installed throughout various parts of the country by Athena Bitcoin, a crypto firm.