Insights

News

Largest private bank in Argentina now offering crypto services

Largest private bank in Argentina now offering crypto services

Banco Galicia, the largest private bank in Argentina, released fantastic news for crypto users in the country just a few days ago.

ARGENTINA — Banco Galicia decided to add cryptocurrencies to its platform, which means that millions of clients of this bank are now able to buy and sell Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and USD Coin (USDC).

Banco Galicia will be able to provide services to its 7 million clients thanks to Lirium, a Liechtenstein-based crypto infrastructure service provider. As of now, the bank will be providing buying and selling services. The withdrawal option is expected to be rolled out later, but the bank will custody for its clients as well.

According to CriptoNoticias, this bank will not be the first bank in the country to be offering these kinds of services. Brubank, a totally digital bank launched in 2017, has also added this functionality for its clients. This functionality will allow users to purchase and trade Bitcoin and Ethereum, while also having an option of buying stablecoins such as USDC and DAI.

Banco Galicia is one of the oldest institutions of this type in the country, founded in 1905. It is also one of the biggest and most important banks, which makes this step very important for crypto adoption in Argentina.

Sources: theblockcrypto.com, investro.com and zycrypto.com.

Published: 09. May 2022
Share: