With US inflation rates hitting nine percent and Argentina’s inflation projected to reach 100 percent by 2022, cryptocurrencies such as Ripple and Bitso are seeing an opportunity to bring modern payment systems to Argentina. This article will discuss Ripple’s On-Demand Liquidity service and Bitso’s QR code payment system. The profit potential of bitcoin is enormous, and those interested in making a real profit can visit this Trading site.
Ripple’s On-Demand Liquidity service converts U.S. Dollars into digital assets XRP.
On-Demand liquidity allows users to convert U.S. Dollars into digital assets such as XRP at any time. This service is provided by Ripple, an organization that supports blockchain technology. Using this service, individuals and institutions can easily send and receive digital assets. In addition, it can be used as a bridge currency, making it convenient for people who do not have access to crypto exchange to send money.
Users can make a one-time or recurring deposit using the On-Demand Liquidity system. Then, the system waits for the money to clear before crediting it to the account. However, it still has the ability to charge a fee and/or delay deposits for a predetermined period.
Ripple’s On-DemanD liquidity service can also be used to make treasury payments more efficient. The company recently announced a partnership with Singapore-based FOMO Pay to use its On-Demand Liquidity product to enable treasury payments. Through the partnership, treasury managers can send and receive prices in both fiat currencies. As a result, a global settlement can be achieved in seconds.
Ripple’s On-DemanD Liquidity service (ODL) enables a bank in Latin America to make payments without involving a bank. With the use of this new technology, banks in Latin America can make payments without the need for prefunding their international accounts.
Bitso’s QR code payment system in Argentina
Ripple and Bitso are expanding their payment systems across Latin America. The two companies are partnering with the Argentine exchange Bitso, which has over 5 million users. With the addition of a QR code payment system, Bitso is introducing a new way for its customers to make payments. The new system will enable more than one million customers to make payments through a QR code, providing a new use case for XRP.
The use of cryptocurrencies is increasing in the country, where people have sought ways to hedge against inflation. Many have turned to cryptocurrencies, digital property, and complex property as an alternative to official exchange rates. Ripple and Bitso have identified Argentina as a potential market for their new cost solution, and Bitso has announced plans to introduce the technology progressively to users in Argentina.
The new payment system allows Bitso customers to use the Argentine peso, bitcoin, Ethereum, and stablecoins to make payments. Bitso will also track exchange rates for various cryptocurrencies. It’s important to note that the new payment system is currently only available in the Argentine market, but it is expected to grow across Latin America.
The adoption of cryptocurrencies is gaining momentum in Argentina. The country’s high inflation rate is causing economic hardship, leading many Argentines to turn to stablecoins for security. The country’s CPI was near 80% in August, and projections indicate that it will reach 100% by December. As a result, many Argentines have turned to cryptos to protect themselves against inflation and avoid official exchange rates. Bitso sees this as a perfect opportunity to implement a modern payment solution.
In a country with high inflation and high fiscal pressure, Ripple and Bitso are gaining traction in Argentina. The country’s currency, the peso, has recently devalued, and most Argentineans are turning to stablecoins for support. Bitso has a similar goal, combining a crypto savings utility with payment capabilities.
Bitso, a leading crypto exchange in Latin America, is preparing to launch a QR code payment tool within its wallet app. This will make it easier for Argentine consumers to pay with crypto in retail stores. This is a significant development in a country where the Peso continues to be plagued by inflation. The exchange currently has more than a million users and plans to introduce this payment system in all major cities in Argentina.
Ripple and Bitso are expanding their crypto services in Argentina. In December, Bitso raised $62 million from QED Investors and Kaszek Ventures. The money will be used to expand the company’s services and capabilities in the region. Bitso is also preparing to introduce its own cryptocurrency derivatives trading platform and interest-bearing crypto accounts in Argentina.