Argentinian Bank to Use Bitcoin for Cross-Border Transactions

BMV bank has revealed a partnership with Bitex to allow customers to make cross-border payments in Bitcoin. They aim to utilise Bitcoin as a low-fee cryptocurrency which can be transferred across borders and easily exchanged for fiat currencies.Bank Moves from SWIFT to BitcoinBMV said in a statement: “The service allows you to reduce costs associated with international transfers as there are no international banks as intermediaries. The logistics solution allows for a reduction in the time it takes to send or receive transfers up to a maximum of 24 hours. Bitex has a wide network of partners that enables international transfers to more than 50 countries.”Bitcoin enables transfers to be made without using third parties and does not rely on any trusted parties.

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