Tech

Argentinian fintech believes in cryptocurrency to beat currency volatility

Matías Dajcz, chief financial officer at startup Ripio, says cryptocurrency transactions tripled in Argentina during the pandemic

cryptocurrency
Image: André Chiavassi/ The Brazilian Report

With an increasingly volatile Peso, Argentinian citizens are beginning to look toward cryptocurrency as a way to protect themselves from exchange rate fluctuations. This, in turn, has led to a wave of fintechs leveraging their businesses with digital assets, as is the case of startup Ripio, which builds financial products using blockchain and proudly describes itself as a “promoter of the new digital economy.” 

The economic tension caused by the Covid-19 crisis has aggravated Argentina‘s already fragile fiscal situation, leading to a further drop in the Peso against the U.S. Dollar. After years of crisis, mounting inflation, and high foreign...

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