Published On: Wed, May 23rd, 2018

Argentinian Bank Allows Cross-Border Payments with Bitcoin

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Banco Masventas in Argentina announced via its Facebook page that it is introducing a new program that will allow customers to make cross-border payments using bitcoin. The institution has partnered with the Latin America–focused exchange startup Bitex — founded in 2014 — to potentially compete with SWIFT, a global, bank-owned messaging network.SWIFT, which stands for the Society for Worldwide Interbank Financial Telecommunication, is built to handle and process international bank payments. Unfortunately, the project has been suffering from security issues since it first entered the monetary arena.Banco Masventas is now the first financial establishment to base its …

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