How it benefits companies, employees and savers

Julian Colombo, CEO of Bitso in Argentina, explains how to hedge against general increases in prices and deep local exchange rate volatility. find out how

He Crypto winter seems to be waning, which further fuels interest in digital currencies. Savers, especially Argentines, do not stop closely monitoring what happens with bitcoin and major digital currencies in order to cover themselves against local situational events.

in interview with iproup, Julian Colombo, CEO of Bitso Argentina, elaborated on what are Ways to take advantage of these benefits provided by the crypto ecosystemWhich ranges from protecting funds in a dollarized asset to safely, quickly and collecting hard currency pay.

iProUP: Is the Bear Market Over With Bitcoin and Major Cryptocurrencies Rallying?

Julian Colombo: We come from a special moment: the peak in 2021 and we begin 2022 going through a bear market into declining markets, with prices of major cryptos falling.

In recent months, a kind changing behavior, both in March and in recent weeks, especially, The price of bitcoin rose and so did the demand for what we call the digital dollar. (stable coins).

we’ll see if it’s a Sustained rise or is it a rebound in prices, The price depends on many things, it is very complicated to predict, but we try to look at the trends and with each rise or fall, User behavior change and combine,

Me: Why bitcoin has still been able to hold its own In the midst of a bear market?

JC: Despite falling off $70,000 to slightly below $20,000He lost interestBut many people kept buying bitcoin considering it cheap.


Workers, savers and now companies too: the benefits of using a digital dollar in Argentina

we see that Acquisition is not as price sensitive as beforeBut there is interest when it is rising, because everyone wants to buy an asset that is rising, but when it is falling, because they think it is a good time to enter the crypto world.

This condition tells us that The crypto ecosystem is something that is here to stay and is not so seasonal,

I: Fall of Silicon Valley banks and credit suits focus on regulation, what should regulation be like?

JC: It’s a very interesting topic. there is a lot Some countries that have specific rules for crypto. Companies like Bitso seek out those crypto licenses.

We believe that Regulation should not go against innovation of companies and as long as it doesn’t try to put a brake on growth, we consider it great.

Our main concern aligns with the regulators: we want users are safe, If they have a legal framework that has certain criteria that have to be met, that’s good news.


Workers, savers and now companies too: the benefits of using a digital dollar in Argentina

In the absence of official bodies, companies we used to self-regulateLooking to new practices, such as proof of solvency and cryptographic acknowledgement, to give customers confidence and security.

Thus Users can be more certain about where they invest money And what are the risks associated with those movements.

I: Does adoption in Argentina make sense for blockchain or just speculation?

JC: Argentina has been among the top countries in the world to adopt cryptocurrencies over the years. 1 in 10 people have or had crypto,

we believe that if there were The more financial training, the greater the use of virtual currencies, However, it is currently high: at Bitso we have more than 1 million crypto users in our country.

There are two clear trends in local adoption. On the one hand, the Preference for stablecoins tied to the dollar, because of the exchange difficulties that exist to buy foreign currency. On the other hand, the Euphoria in the traditional crypto marketwho uses it, in addition to using it as a savings method speculating, investing or paying,

We believe that There’s Already a Big Understanding of What’s Behind CryptocurrenciesPeople who enter this ecosystem want to learn more.


Workers, savers and now companies too: the benefits of using a digital dollar in Argentina

Me: How do those digital dollars work?

JC: Digital Dollar or stable coins Near physical dollar support, You enter your pesos into the Bitso platform and you can exchange them at that day’s exchange rates according to market updates.

These coins give users the possibility Access dollar-denominated assets very easily from a cell phone In a few minutes. we do have stable coins is bounded by the value of euro or ounce of gold that allows value to be preserved.

I: Argentina has talent working abroad, how can they benefit from crypto?

JC: Subject of There has been a huge rise in salaries being paid in crypto In recent times, both for freelancers who are through today Easiest and fastest way to collect that salary In a foreign bank account from another jurisdiction or by using crypto directly linked to the dollar value.

At Bitso, we give them the possibility Spend directly using Pay with QR code or convert to peso and transfer to bank account,

Many big companies can pay salaries in dollars Open an account with Bitso and pay in crypto with currencies pegged to the dollar from there For the employees so that they have a part or whole of the share in the currency.

They can also do it in bitcoin or ethereum, but we recommend it to avoid price fluctuations Stable Coins.

I: What value proposition does Bitso provide to companies?

companies have three uses Crypto’s.

Julian Colombo, CEO of Bitso Argentina, assures that the firm has 1 million users in the country

Julian Colombo, CEO of Bitso Argentina, assures that the firm has 1 million users in the country

refers to the first payment of wagesWhich facilitates the operation between the parties.

second, do pay anywhere in the world way easier and cheaper than traditional systems: Bitso has Banking connection with 75 countries of the world and provides an easy-to-use ramp.

and third, they have the possibility Invest your treasure in crypto, May be they have collected sales in local currency and those funds will be used in few days: till then they can be covered in stable coins,

we already have more 1,500 corporate customersA huge number of them in our country.

I: What do you propose for an Argentina that wants to hedge against inflation and exchange rate volatility?

JC: We see Bitso Everyone Can Live In Crypto: Collecting part of salary in virtual currency and you can use it directly with QR with best price and Lowest commission on the market,

Besides, you avoid exposure to weight through the acquisition of stable coins And balancing what you don’t use with 24×7 availability.