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Argentinian banks ‘race’ for crypto services

Banco Galicia, Argentina’s largest private bank, has just confirmed that it is starting to help customers buy certain crypto assets on the app. online banking.

Partnering with Lirium, the service providing infrastructure electronic money Cryptocurrency based in Liechtenstein, Banco Galicia bank started offering cryptocurrency services.

According to Bloomberg, the bank’s move was inspired by an Argentinian poll that reflects the growing demand for cryptocurrencies in the South American country, which has 60% of individuals. Poll participants asked for greater access to the developing market.

Argentine banks 'race' for electronic money services - Photo 1

Major banks in Argentina “race” to trade crypto assets on online banking applications


Argentina’s largest private bank is expected to support more than 7 million transaction customers Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and USD Coin (USDC) as soon as the service launches. However, Lirium COO Martin Kopacz said that the service Banco Galicia is about to offer only allows users to buy and sell cryptocurrencies and does not support cryptocurrency withdrawals.

At the same time, Mr. Kopacz revealed Banco Galicia will also provide custody services through a partnership with Hong Kong crypto exchange OSL.

Notably, Banco Galicia is not the only mainstream bank to deploy some services related to crypto assets on its online banking application. Several reports this week suggest that digital bank Brubank is also gradually rolling out a similar service.

Not stopping there, Mr. Kopacz further revealed that there are four other banks in Argentina that are also planning to cooperate with Lirium to soon provide services for buying and selling crypto assets.

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