Banco Galicia, Argentina’s largest private bank by market capitalization, confirmed on Monday that the option to buy and sell cryptocurrencies has been added to its platform.
The bank added a feature in its app’s investment section for users to acquire bitcoin (BTC), ether (ETH), USDC, and XRP, informing customers that it is a new tool. By logging into the platform, CoinDesk confirmed this.
It’s the latest collaboration between financial institutions and service providers aiming to bring crypto to the masses, following in the footsteps of PayPal’s partnership with Paxos and NYDIG’s collaboration with US credit unions.
According to CoinDesk, Banco Galicia’s service is operated in collaboration with Lirium, a Liechtenstein-based crypto product for digital wallets and mobile banking apps.
Banco Galicia allows its customers to buy and sell cryptocurrency, but not withdraw or send it, according to Lirium COO Martin Kopacz, who also mentioned that the bank provides custody services. Banco Galicia intends to make the service available to all of its customers by mid-May, according to Kopacz.
Lirium collaborated with OSL, a Hong Kong-based digital asset trading platform that launched in Latin America last October, to provide the crypto trading and custody service.
Photo by Angelica Reyes
