The Argentinian subsidiary of international ridesharing giant Uber is turning to bitcoin amid what has been described as a crackdown by local authorities on its operations.
Xapo representatives said they see the event as a way to boost adoption of the startup's product, which allows users to load the debit card with bitcoin, and for that bitcoin to be converted at the point-of-sale in purchases over traditional card rails.
Xapo product manager Anni Rautio told CoinDesk:
Rautio said that the partnership began last week, and that Xapo has already seen an increase in interest for its debit card product following the announcement.
While it remains to be seen whether this will boost bitcoin use in the region, local news sources report 550,000 users have downloaded the app and the situation seems likely to continue. Uber officials have called resistance to its startup in Buenos Aires the “fiercest” it has experienced around the world, all the while showing signs it intends to push forward in an effort to serve users.
Prior to the partnership with Xapo, Uber Argentina had made other alternative payment methods available including CardNow, Papipago and Neteller.
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