Banco Galicia, Argentina’s largest private bank by market capitalization, revealed Monday that crypto trading had been introduced to its investing platform. Argentines are among the world’s top digital asset adopters, thanks in part to the country’s high inflation.
According to the bank’s senior product manager Nicolas de Giovanni, the move is aimed at a youthful clientele who, according to survey data, seek streamlined access to cryptocurrency through standard banking channels.
Through the bank’s cooperation with crypto wallet Lirium, customers may acquire digital assets on the same platform they use to buy equities and bonds. Users, unlike other exchanges, are unable to withdraw or send their cryptocurrency.
After Argentines noticed the new capability on Monday, the bank acknowledged it was offering crypto trading in the home banking app. Clients who receive their money via direct deposit will be the first to benefit from the functionality.
Banco Galicia, which is listed on both the Nasdaq and the Buenos Aires stock exchanges, is the country’s first large bank to offer such services.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.