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Uala Launches Bitcoin and Ethereum Transactions

Argentina-based fintech company Uala has announced that it will launch Bitcoin and ETH transactions for its customers in the country. The service will be rolled out to 4.5 million users in the coming weeks.

Company manager Andres Rodriguez Ledermann said in a statement that the feature will be available to several thousand users in the first place and will be available to all 4.5 million users of the company in the coming weeks.

The platform only allows crypto trading. Users will not be able to make withdrawals with Uala. The minimum transaction amount will be 250 pesos ($0.83).

Andres Rodriguez Ledermann stated that there are regulatory issues that need to be worked on in order to introduce a similar feature in Mexico and Colombia, where the company operates.

Uala became the first financial company in the country to allow crypto trading since Argentina’s central bank in May banned the two banks from allowing their customers to access crypto assets. Andres Rodriguez Ledermann said that Uala has set up a private company to comply with the regulations in Argentina.

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