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May has not been a good month for Emerging Markets in general, but perhaps none (other than Turkey now) were hit harder than Argentina which raised rates to an astonishing 40% in an effort to defend massive capital flight and the crash in its currency as IMF bailout hope is all that remains – aside from Franklin Templeton’s global bond fund.

But as the BCRA and Argentine government desperately shore up confidence in their collapsing currency, NewsBTC.com’s Tim Copeland reports that Argentine bank, Banco Masventas (BMV), has revealed a partnership with Bitex to allow customers to make cross-border payments in Bitcoin.

They aim to utilise Bitcoin as a low-fee cryptocurrency which can be transferred across borders and easily exchanged for fiat currencies.

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