Fun

Banco Galicia Becomes First Bank to Introduce Crypto Trading in Argentina

News Feed - 2022-05-04 03:05:09

Banco Galicia Becomes First Bank to Introduce Crypto Trading in Argentina


Banco Galicia, one of the largest financial institutions in Argentina, has introduced cryptocurrency trading as part of the services it is currently offering to customers. Users interested in investing in cryptocurrency are already able to purchase four different crypto assets directly from the home banking app of the financial institution, making it reportedly the first bank to offer this possibility to Argentinian customers. Banco Galicia Pioneers Crypto Trading for Banks in Argentina


Banco Galicia, one of the biggest private banks in Argentina, has decided to complement its investment services with the introduction of cryptocurrencies in its portfolio. Now, customers of the bank will be able to invest in crypto assets directly from the banking app, without having to resort to other exchanges or third parties. This move makes Banco Galicia reportedly the first bank to offer these services in Argentina.


The news was revealed by several customers of the bank on social media who were surprised by the quiet inclusion of this service. This functionality is being offered through a partnership with Lirium, a third party that will act as the exchange to execute the orders of the customers and serve as a custody provider for the involved cryptocurrencies.


The motivation for including these new investment services comes from customer demand amidst the rise in popularity of crypto instruments. On this, Ariel H. Sanchez, manager of investment products, and Nicolás de Giovanni, senior product manager of Banco Galicia explained:


More than 90% of people say they know cryptocurrencies and many of them even see them as an investment and the financial future. We conducted a survey of our clients and more than 60% want to incorporate these assets into their investment portfolio, with the youngest public being the one that demands them most. Crypto Picks and Advice


The institution was conservative in choosing the cryptocurrencies which will be available through its home banking app for purchasing and selling. Just four assets were listed at launch, these being BTC, ETH, USDC, and XRP. The institution informed that in this first phase, the bank will limit its offer to cryptocurrencies “linked to projects with practical uses such as blockchains, smart contracts, registries/ledgers, among others.”


However, Banco Galicia only recommended crypto investments for customers with a high or moderate risk investment profile, due to the volatility of the new investment instruments. Tags in this story Argentina, banco galicia, Bitcoin, Cryptocurrency, cryptocurrency investments, Ripple, USDC


What do you think about Banco Galicia’s decision to introduce cryptocurrency investment options to its home banking app? 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. Report: 100,000 Cubans Are Using Cryptocurrencies to Bypass Financial Sanctions NEWS | 2 hours ago Weiss Ratings Report Claims Crypto-Backed Home Loans Spell Trouble NEWS | 3 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBelgium Introduces Registration for Crypto Exchange and Wallet Service Providers Next articleWeiss Ratings Report Claims Crypto-Backed Home Loans Spell Trouble 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 ItFBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms


On April 18, the Federal Bureau of Investigation (FBI), the U.S. Treasury Department, and the Cybersecurity and Infrastructure Security Agency (CISA) published a Cybersecurity Advisory (CSA) report concerning malicious North Korean state-sponsored cryptocurrency activity. According to the U.S. government, law ... read more.Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

News Feed

Jesse Coghlan6 hours agoNifty News: Yuga Labs to buy metaverse studio, Etihad NFT staking to take off and moreYuga Labs will acquire Roar Studios as it looks to onboard talent for its still-in-development Otherside metav
Market Update: Bitcoin Cash Shines as Crypto Markets Show Bullish Signals
Market Update: Bitcoin Cash Shines as Crypto Markets Show Bullish Signals Digital currency markets are in the green again today after seeing some moderate losses the day prior. T
Pro-crypto RFK Jr. once dumped a dead bear in New York’s Central Park
Martin Young5 hours agoPro-crypto RFK Jr. once dumped a dead bear in New York’s Central ParkRobert F. Kennedy Jr. left the dead bear with an old bicycle, at a time when there was a rise of cyclist-related accidents acr
States’ backlash against Binance.US continues with 6th license pulled
Derek Andersen2 hours agoStates’ backlash against Binance.US continues with 6th license pulledOregon joins five other states that have delicensed Binance.US after former Binance CEO Changpeng Zhao pleaded guilty to fel
US Inflation Spiked 8.6%, Highest in 40-Years — Economist Says We’re Not ‘Seeing Any Signs That We’re in the Clear’
US Inflation Spiked 8.6%, Highest in 40-Years — Economist Says We’re Not ‘Seeing Any Signs That We’re in the Clear’ After April’s consumer price index (CPI) report
TSX-Listed Voyager Digital ‘Temporarily’ Suspends Trading, Deposits, and Withdrawals
TSX-Listed Voyager Digital "Temporarily" Suspends Trading, Deposits, and Withdrawals After the TSX-listed Voyager Digital revealed that it was owed $655 million from Three Arrows C
Localbitcoins P2P Exchange Launches Mobile App for Android
Localbitcoins P2P Exchange Launches Mobile App for Android Peer-to-peer cryptocurrency marketplace Localbitcoins has announced the launch of a new mobile application for its global
Can Dogecoin Hit $4? Expert Sets Prediction For Breakout Timing
Este artículo también está disponible en español. Analysts and investors alike have Dogecoin under the lens, particularly in light of recent forecasts indicating a possib
Weiss Ratings Report Claims Crypto-Backed Home Loans Spell Trouble
Weiss Ratings Report Claims Crypto-Backed Home Loans Spell Trouble A report published on May 2 by the rating agency Weiss Ratings warns that crypto-backed mortgages “spell r
Biggest Movers: MATIC Hits 10-Month High as AVAX Extends Recent Gains
Biggest Movers: MATIC Hits 10-Month High as AVAX Extends Recent Gains Polygon rallied to a ten-month high on Thursday, as the token rose for a third straight session. Overall, cryp
Crypto Analyst Says This Bitcoin Top Signal Hasn’t Gone Off Yet — What To Know
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Indonesian NFT ‘selfie guy’ makes $1.8M, CryptoPunks sells for $16M: Nifty Newsletter
Ezra Reguerra5 hours agoIndonesian NFT ‘selfie guy’ makes $1.8M, CryptoPunks sells for $16M: Nifty NewsletterThe CryptoPunks collection recorded another $16-million transaction this month as CryptoPunk #7804 sold for