Fun

Soros-Backed Argentine Neobank Uala Launches Cryptocurrency Trading Services

News Feed - 2022-11-08 03:11:41

Soros-Backed Argentine Neobank Uala Launches Cryptocurrency Trading Services


Uala, an Argentine neobank backed by George Soros, has launched cryptocurrency trading services for its users in Argentina. Customers of the company with the highest loyalty levels are now able to trade, purchase, and sell bitcoin and ether through Uala’s platform. The service is expected to be expanded to all customers in the coming weeks. Uala Gets Into Crypto


On Nov 4, Argentine neobank Uala announced it is already offering cryptocurrency trading services through its app. The unicorn company, which has investments from George Soros and Steve Cohen, will roll out this functionality progressively to all of its customers in Argentina, according to statements from CEO Pierpaolo Barbieri.


Regarding the significance of the move, Barbieri stated: Argentina is the best market to make this investment, since it is one of the countries in the region where adoption is growing the fastest.


Barbieri explained that the cryptocurrency trading option is already available to customers at the highest levels of the company’s loyalty program. The goal is to make the option available to all of the 4.5 million customers of Uala in Argentina in the coming weeks. More Details


The company had to create an offshoot to make cryptocurrency trading available, called Uanex. At the launch date, customers will be able to access this option through the investment menu in the app, and it will be available at all times. The first cryptocurrencies that will be available in the investment app are bitcoin and ether, with more possibly coming after.


However, stablecoins will not be offered through the platform. On this choice, Barbieri explained: We prefer clarity and transparency: Bitcoin and Ethereum are what they are. Stablecoins will have a regulation in the future.


Users will be able to invest from $1.50 in crypto, and Bitso will be responsible for offering custody of the funds in Uala’s wallet service. About the fees the company will charge, Barbieri explained that they will be quoted depending on the liquidity of funds available, but said they would be low.


Banco Galicia, a traditional private bank, tried to launch similar services in May, but the Central Bank of Argentina swiftly issued a resolution banning private banks from offering services to manage digital assets. Tags in this story Argentina, banco galicia, Bitcoin, Bitso, Central Bank of Argentina, cryptocurrency trading services, ether, George Soros, pierpaolo barbieri, Stablecoins, steve cohen, uala, uanex, unicorn


What do you think about Uala’s cryptocurrency trading services offering? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Crypto Exchange Bybit Does Not Plan to Sanction Russian Users Despite MAS Call, Report EXCHANGES | 2 days ago Fidelity Investments Launching Commission-Free Retail Crypto Trading for Bitcoin and Ether EXCHANGES | 3 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons, Wirestock Creators / Shutterstock.com Previous articleUS Announces ‘Historic $3.36 Billion Cryptocurrency Seizure’ as Silk Road Bitcoin Thief Pleads Guilty Next articlePublicly Listed Bitcoin Miner Core Scientific Publishes Update After SEC Filing That Mentions ‘Restructuring’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards


Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Iran to Increase Penalties for Unauthorized Cryptocurrency Mining

News Feed

Tom Blackstone7 hours agoLayer 2 networks hit $13B TVL, but challenges still remainData from L2Beat shows that layer 2s are seeing greater adoption than ever before as users continue to desire lower gas fees.4528 Total v
Wallet Provider Blockchain Ventures Takes Stake in Gaming Platform Enjin
The venture arm of cryptocurrency wallet, data and exchange provider Blockchain has taken a stake in blockchain game technology firm Enjin. Blockchain Ventures said on Tuesday th
Stablecoin delistings in Europe spell change for crypto exchanges, issuers
Andrew Singer10 hours agoStablecoin delistings in Europe spell change for crypto exchanges, issuersThe largest stablecoin issuers are non-European, but they will have to get compliant fast if they don’t want to lose gr
Kevin O’Leary Says He Won’t Sell Any Crypto Despite Downturn – ‘You Just Have to Stomach It’
Kevin O"Leary Says He Won"t Sell Any Crypto Despite Downturn – "You Just Have to Stomach It" Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he is not selling any o
Derek Andersen5 hours agoSEC charges podcaster in first unregistered securities sales claim against NFT offeringImpact Theory produces entertainment and educational podcasts and was “trying to build the next Disney”
New Bitcoin Quest Contest Gives People a Chance to Locate Crypto Seeds Hidden in Pictures
New Bitcoin Quest Contest Gives People a Chance to Locate Crypto Seeds Hidden in Pictures There’s an online-sleuthing contest starting on January 21st call
Technical Analysis: Cosmos, Harmony Prices Surge on Saturday
Technical Analysis: Cosmos, Harmony Prices Surge on Saturday Cosmos (ATOM) and harmony (ONE) were some of today’s big gainers, as the global crypto market cap was up 1.23% t
POPEYE METAVERSE MADNESS NFT HODLers Lottery Program and Details
POPEYE METAVERSE MADNESS NFT HODLers Lottery Program and Details sponsored On May 18, 2022, MADworld released and sold out the 1st collection of the POPEYE METAVERSE MADNESS NFT in
Web3 Blockchain Gaming Project Oasys Closes Strategic Funding Round With Participation of Galaxy Interactive and Nexon
Web3 Blockchain Gaming Project Oasys Closes Strategic Funding Round With Participation of Galaxy Interactive and Nexon Oasys, a Gamefi-oriented Web3 blockchain project, has announc
Why are memecoins down today?
Nancy Lubale1 hour agoWhy are memecoins down today?Memecoins underperform the wider crypto market after double-digit weekly losses surpass the sell-off in BTC and ETH.513 Total views34 Total sharesListen to article 0:00M
Alchemy Pay Integrates With TRON to Enable TRX Payment and Investment
Alchemy Pay Integrates With TRON to Enable TRX Payment and Investment sponsored Singapore, November 15, 2021 –The Tron Foundation (TRX), the world’s largest blockchain
Not Dogecoin But This Altcoin Is the Best Pick Post-Trump Win, Says Crypto CEO
Este artículo también está disponible en español. Andrew Kang, founder and CEO of Mechanism Capital, has shifted his bullish outlook from Dogecoin (DOGE) to First Neiro O