Cryptocurrency exchange Bitso will launch a cryptocurrency payment service using QR code in Argentina.

According to Double Rock on the 22nd (local time), Bitso will introduce a QR code payment function in its own cryptocurrency wallet application from the 27th of this month.

Argentine users can pay for products with cryptocurrency at supermarkets and restaurants through QR codes in the wallet application.

Santiago Alvarado, senior vice president of Bitso products, explained, “We will let users use cryptocurrency as a payment method in their daily lives.”

Bitso’s QR code function is available in Mercado Pago and Modo, the most commonly used payment solutions in Brazil. It plans to apply it to all payment systems approved by Brazil’s central bank in the future.

QR codes are already a widely used payment method in Argentina. According to MasterCard, Argentina’s QR code usage rate is the highest in Latin America.

Meanwhile, Argentina is experiencing severe inflation, with prices rising nearly 80 percent from a year ago.

Argentine citizens are choosing cryptocurrency as an alternative to soaring prices. According to Channelsis, Argentina ranked 13th in the global cryptocurrency adoption index in 2022.

By fonuder

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