In a first, Argentina settles export deal with Paraguay using Bitcoin

16 Feb, 2019 | Updated: 16 Feb, 2019
by Richard Allen
In a first, Argentina settles export deal with Paraguay using Bitcoin

In a first for both countries, Argentina has settled an export deal with Paraguay in Bitcoin, CoinTelegraph reports.

Paraguay bought pesticides and fumigation products worth $7,100 from Argentina and used cryptocurrencies to settle the deal. Payment was made using Bitcoin and then converted into Argentine pesos to settle the accounts with the exporter of the products.

In order to go ahead with the deal, Argentina applied to Latin American service provider Bitex. Manuel Beaudroit, Chief Marketing Strategist at Bitex explained that the company is part of the Argentine government’s program Exporta Simple, which facilitates the exports of goods and services under $15,000.

In other Argentine news, the country’s official state transport card Sistema Único de Boleto Electrónico, recently announced their partnership with Bitex as well allowing travelers to top up their travel cards with Bitcoin.

Additionally, last year the Paraguay government began facilitating the construction of the world’s largest mining farm and exchange by a South Korean firm in the country.

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