Argentine Bank, Uala, Launch Crypto Trading Services

The banking and finance system has continued to migrate and traverse its path into the cryptocurrency/Web3 space. During the past few months, several Fintech and digital companies have launched cryptocurrency services and offering to their users.

Statistics and research from financial experts state that nearly two-thirds of banks consider crypto-related projects and services a priority in their growth strategies. One of the leading Banks in Argentina, Uala, has joined the evolving train after extending its services into cryptocurrency.

George Soros’ Bank, Uala, Makes Entry Into Crypto

The Argentina financial institution, Uala, has finally launched crypto services on its platforms for users. American businesspeople and investors George Soros and Steve Cohen are top investors in the banking institution.

Earlier today, Uala Chief Executive Officer, Pierpaolo Barbieri made the recent update about the banking institution known. Pierpaolo stated that the crypto trading, buying, and selling services would be available to all Argentina users on its platform soon.

At the time of this report, top-rated Uala users can access, buy, and transact cryptocurrency on the bank’s platform. Although, only Bitcoin and Ethereum are available on the platform.

The top-rated customers are test-running the platform crypto service, after which the bank will extend the service to all Argentina users. Speaking about the newly launched services on Uala’s platform, Barbieri stated:

“The Argentina market is still fertile and untapped, one of the best regions to invest in coupled with the fast rate of cryptocurrency adoption. The web3 services are available for top-rated customers of the bank and will be made available for other customers soon”. 

Uala To Launch Uanex, An Incubatory Platform

During his speech, Uala CEO Pierpaolo Barbieri revealed that an incubator platform, Uanex, will be launched for crypto services. He stated that the app would be mainly for virtual currency trading and transactions.

The CEO stated that all customers would have access to the virtual currency service (trade, invest, and purchase) when the Uanex application is launched. According to Barbieri: “The app will be available 24/7 for all Uala users. However, only Bitcoin and Ethereum will be listed and available on the trading application. Although the bank may list other coins in the coming months”.

“We would not be listing stablecoins on the application to avoid unnecessary regulations it attracts.” Uala users and customers can invest a minimum of $1.50 in crypto. The fee charged on cryptocurrency transactions will be minimal, depending on the number of funds involved.

Leave a Reply

Your email address will not be published.