In a new wave of adoption, public transport commuters in Argentina can now add credit balance to their SUBE travelcards with Bitcoin (BTC). The SUBE card is Argentina’s State Public Transport Card for travel charges.
As reported this week, Alto Vaje the platform for adding money to SUBE travelcards, has partnered with Bitex – a blockchain-driven financial service company. This partnership allows citizens and residents to fund their SUBE card using Bitcoin (BTC), via the Alto Vaje website.
According to Manuel Beaudroit, Chief Marketing Officer at Bitex, the SUBE card can be used by over seven (7) million people across 37 locations in Argentina; for travels by train, bus and subway transportation. Stating further, the CMO explained that the main aim of the partnership is to give people a wider access to “such a revolutionary technology, as Bitcoin.” In his words:
We believe that this type of project is of great importance since it brings technology as disruptive as bitcoin to the common people, demonstrating the true value and applications it has in everyday life.
Prior to this time, Alto Vaje’s card-loading process was done using only PayPal; however with the current addition of bitcoin payments, residents have a more accessible and easy payment alternative.
The technology provider of the SUBE card is Argentina’s Nacion Servicios S.A. a subsidiary of Argentina’s National bank, cards can be topped up at all subtle stations, national lottery outlets and some kiosks with automated terminals. Commuters can also check the proximity and map of SUBE vendors on the SUBE website.
Extensively, this news continues a long list of integration of bitcoin and cryptocurrency payments for products and services around the world. Also, with the South American nation faced with huge financial crisis and inflation, an increasing number of citizens have turned to bitcoin as an asset class and store of value/wealth; this realization is backed by statistics from bitcoin and crypto trading volumes in the country as well as the current increasing number of newly launched Bitcoin ATMs in Argentina.
Bitcoin and cryptocurrencies show potential to revolutionalize payments and economic stability globally. Do you own any Bitcoin (crypto)? BUY/SELL your Bitcoin (cryptocurrency) here: www.nairaex.com, it’s 100% safe and reliable.