Commuters in Argentina will now be capable of using Bitcoins to add currency to their SUBE public transport card in over 37 locations all over the nation. This occurred due to a recent partnership conducted between Alto Viaja, which provides the transport card loading facility, and Fintech company Bitex.
Thanks to Bitex, bitcoin will be able to seamlessly recharge the SUBE cards thanks to the use of its blockchain technology to make sure financial services can be delivered to users. The website of Alto Viaje may also be used by the local citizens to add currency to their SUB cards with Bitcoins.
Chief Marketing Officer of the Bitex Platform, Manuel Beaudroit, has stated that SUBE cards are used by over 7 million users. Every single one of these SUBE card users can be found in over 37 locations within the nation of Argentina. In order to make traveling as seamless as possible and convenient, the SUBE card can be used to travel tickets on public buses, trains, and even the subway station.
Beaudroit had this to say,
“We believe that this type of project is of great importance since it brings technology as disruptive as bitcoin to the common people, demonstrating the true value and the applications it has in everyday life.”
The Chief Marketing Officer further clarified that each recharging conducted through the platform will require a repurchase of Bitcoins that are worth at least 50 pesos.
According to the Director of Alto Viaje, Luciano Verardo,
“From Alto Viaje we want to offer safe and innovative services, the alliance with Bitex allows us to integrate the payment with bitcoins and new possibilities of financial inclusion for people and companies.”
At the moment, Argentine is undergoing a financial crisis of its own, many of which have left concerned citizens about inflation rates. In order to preserve their wealth, an increasing number of citizens have turned towards cryptocurrency. The number of Bitcoin ATMs have seen growth over the past couple of months.