Residents in 37 cities of Argentina including the capital city of Buenos Aires, can now add credit balance to their SUBE (Sistema Único de Boleto Electrónico) travelcards with Bitcoin. A collaboration between Alto Viaje, who provide the travelcard-loading platform, and Bitex, a
Top Up Sube Cards With BTC
Top up of these cards using Bitcoin is possible due to the integration of online card funding platform Alto Viaje and fintech startup Bitex. Alto Viaje is listed on the official government’s Sube website as one of the vendors that cardholders can use to fund their accounts. SUBE cards can be topped up with credit at all subte (underground metro) stations, national lottery outlets, and at some kiosks with automated terminals.
About the decision
Alto Viaje previously offered Paypal for funding of Sube cards, but now offers Paypal and BTC. The platform will also add funding through Rapipago.
According to its website,“Alto Viaje decided to use Bitex’s infrastructure for the technology and liquidity it has, a necessary condition to face a project of this magnitude.”
Shifting of residents to Bitcoin
Cities of Argentina are currently facing a financial crisis, with inflation rates a big concern for many. This has led to an increasing number of citizens toturn to bitcoinas a way of preserving their wealth.LocalBitcoinsvolumesare increasing in the country, and Bitcoin ATM numbers have also beengrowingover the past few months.
The achievement of C
This may be a small step for Bitcoin, but it is a big achievement for crypto-kind. The inclusion of bitcoin and cryptocurrency payments for products and services is not new but to present it to such a diverse population as metro and bus riders is great publicity and a serious push of cryptocurrency into the mainstream.
It will be interesting to see if the move to allow travelcard top-ups in bitcoin accelerates this trend. Will the public accept bitcoin as a more stable solution than the Argentine Peso? Let us know your views in the comments down below