Bitso launches QR code Crypto payments in Argentina for tourists

Rick Steves

“By offering this product to foreigners visiting Argentina, we are helping them make the most of their money and time by avoiding exchanging cash for local currency and letting them make contactless crypto payments in seconds right from their phones.”

Bitso has announced the launch of QR payments for travellers in Argentina, further enabling cusomers from across Latin America to make purchases with crypto assets in a user-friendly way.

The cryptocurrency platform, which has more than 6 million users across LATAM, is making crypto payments easier for foreign visitors in Argentina following Bitso’s September launch of its QR crypto payments service for Argentina residents.

The local service lets Agentinians pay for purchases through the Bitso app by scanning the QR codes of other payment companies supported by the Central Bank. With that launch, Bitso became the first crypto company to offer QR payments in Argentina.

The launch is particularly relevant in Argentina, where QR codes are one of the most common forms of payment: 59% of Argentinians have used QR codes this year, compared with a regional average in Latin America of only 34%.

Bitso’s QR codes allows tourists to use crypto instead of exchanging cash for local currency in Argentina

The new function will let tourists travel using crypto and avoid the inconvenience associated with exchanging cash for local currency.

Google searches for places to travel in Latin America have increased by 113% this year and 78% of Latin Americans now report that they prefer contactless payment methods in the wake of the pandemic.

Santiago Alvarado, SVP of product at Bitso, said: “We are offering tourists from all over the world the possibility of ‘traveling with crypto’ in Argentina, using one of the most widely adopted payment methods in the country. Most restaurants, supermarkets, and shops accept QR payments. By offering this product to foreigners visiting Argentina, we are helping them make the most of their money and time by avoiding exchanging cash for local currency and letting them make contactless crypto payments in seconds right from their phones.”

Bitso’s QR payment service in Argentina allows tourists to choose between digital dollars (USD stablecoins), bitcoin (BTC), ether (ETH), or DAI. Bitso makes an automatic conversion using the best possible exchange rate and pays the merchant in local currency.

Read this next

Metaverse Gaming NFT

DCentral Miami brings together all of Web3, NFT, DeFi, Metaverse

The world’s biggest Web3 meeting entitled DCENTRAL Miami is set to take place November 28-29, featuring a lineup of some of the biggest and most influential names in the blockchain space.

Digital Assets

Crypto ban expands across UK banks as Starling joins ‎crackdown

UK digital bank Starling has banned ‎all customer payments related to cryptocurrencies, another blow for the crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎


Markets Direct at FIA EXPO 2022: Traders know what they want from brokers

The FIA Expo 2022, one of the most prestigious events within the global derivatives trading industry, took place in Chicago on 14 & 15 November.


FIA Expo 2022: TNS addresses public cloud limitations with hybrid infrastructure

November is the month of the FIA Expo, one of the largest futures and options conferences in the world, bringing together regulators, exchanges, software vendors, and brokers in one place: the Sheraton Grand Chicago Riverwalk. 

Retail FX

Italy’s regulator blacks out Finance CapitalFX, MFCapitalFX

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

Suspected leader of Honk Kong ramp-and-dump scam appears in court

A leader of a sophisticated ramp-and-dump scheme made his first court appearance in a Hong Kong court today, charged with market manipulation and various criminal offences. The case stems from an earlier joint operation of Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), and the local police. 

Institutional FX

Cboe’s James Arrante discusses growing demand for fixed income, FX algo

We caught up with James Arrante, senior director of FX & US treasuries product and business management at Cboe Global Markets, to uncover emerging trends in the FX and fixed income markets and learn more about the bourse operator’s recent initiatives.

Retail FX

Eurotrader acquires UK broker Petra Asset Management

Eurotrader Group has formally entered into the UK market with the acquisition of FCA-regulated broker, previously named Petra Asset Management Ltd. The new entity operates under the brand name Eurotrade Capital Ltd.

Inside View, Retail FX

The Game of Chess Continues – OPEC, China and the Oil Market

Over the past decade, the US has been complaining about the amount of power which the BRIC group, and specifically China, has on the global economy. BRIC stands for Brazil, Russia, India and China; these were the world’s fastest growing economies. Only in the past 10 months, the US has turned their attention toward OPEC due to the prices of fuel. Nevertheless, China seems to have a strong influence even over the price of crude oil.