bank will use Bitcoin to make cross-border payments

[Ayaancool]

In Argentina, Banco Masventas revealed that, starting next Monday, it will allow its customers to make cross-border payments using Bitcoin.

In partnership with the Latin American market startup, Dicks, founded in 2014, this bank will use Bitcoin as a means of payment for cross-border transactions, as an alternative to the traditional Swift system.

It's a kind of tric from the side of banks. Because they realise that there is no way to protect banking system,so they forced to accept bitcoin  to cross border payments.

[javascript1539]

This has been going on for a long time, just that they are not daddy for people to know.

[shashikamal]

Well I'm not quite sure about the source of the news & validity, if so this will be a massive initiative for adoption of Crypto currency by the other governments & major companies. Since the banks are much afraid & against for this decentralized Blockchain system it was said to be applied more regulations. Security & scaling issues which Blockchain has. Meantime one or two institutions can try out the BITCOIN transactions to attract their clients. But overall it will take some time to adopt BTC widely due to lack of belief in virtual currencies by mass community.

[bitcoinposts]

Bric countries and south-east asia countries are relying on ripple and another blockchain to do cross-border transactions in reality it is positive movie for blockchain industry

[12tribes]

While this is a welcome development, it must be pointed out those from the south American continent who plunge in first will take the biggest cut of the pie and enjoy an overwhelming support over time. the bitcoin is breaking barriers and proving reliable amongst trust worthy, firts rate companies who understand the meaning, purpose and uses of cryptocurrency.

[Tylev]

In Argentina, Banco Masventas revealed that, starting next Monday, it will allow its customers to make cross-border payments using Bitcoin.

In partnership with the Latin American market startup, Dicks, founded in 2014, this bank will use Bitcoin as a means of payment for cross-border transactions, as an alternative to the traditional Swift system.

I'm very surprised at this information. It seems to me that the Argentine bank that adopted this decision is not a state bank. It's probably some kind of PR, not a sober calculation. Bitcoin is not designed to serve the banking system. A ripple coin is very suitable for this. It is a good substitute for the outdated SWIFT banking method when transferring funds.

[Charmainekiss]

We are talking about cross-border payments here rather than domestic transactions. So, I believe Banco Masventas is adding Bitex to eliminate other partner banks that can help banks reduce costs. However, this is what I assume because the main model of operation and partnership is not available for public viewing. For the time being, payments for imported or exported goods will be impeded as only a few countries legally make bitcoins as payment instruments.

[Kolikalex55]

Another civilized country began to use blockchain and cryptocurrency, I am very glad that the world supports these technologies and develops. If I'm not mistaken the first banks that introduced this technology were Swiss banks.

[Dinuka Sampath]

Bicoin Mitchell, I think it's a good thing to approve the banking of the banking era in the upcoming era. I think it will also make it easier for customers and quickly develop into the business world and the world.

[Kittygalore]

If they are doing it anything like this then it would be a path-breaking move from the banking industry because generally banks are worried about the growth of decentralized cryptocurrencies and as said by the experts, "Bitcoin will do to banks what emails did to the postal industry". It would be very beneficial for everyone if banks are adopting new technologies to optimize their service.

But then does it make sense? The banks adopting the cryptocurrency, the use of bitcoin. It is like slapping in there face that there is something better than you. But then we canmot say. There is a possibility that they will adopt this kind of improvement. It is like buying bitcoin over the counter, a face to face transactions maybe. Lets just see what will.going to happen in the future.

[Trustor]

As per my experience, for me yes Bitcoin has eliminated all intermediaries for cross border payments except the fact that a person is a internet and bitcoin user but will a bank do the same is a big question mark as banks are guided by central rules and regulations and I think Bitcoin has still not secured that place in the market that it is used by banks.

[Noah14]

If anything, it seems like a marketing tactic. Bitcoin is eant to be used with bank. Banks can do whatever they want to transfer money and it doesn't matter. Using that bank just be

[muslol67]

In Argentina, demand for Bitcoin is increasing day by day. I think the trust in Bitcoin is growing in the face of the economic trend. Bitcoin, especially in countries struggling with inflationary impact, can be a salvation.

So using Bitcoin for money transffer crossborder or not is too easy. Some people still using Western, Paypal or something like that. I can't understand why are they doing that.

[SAYDAKHMETOV]

Yes it is. Already some banks gave permission to use bitcoin, and others still think about it. But I think in any case sooner or later bitcoin will turn into a currency that can be used in the banking sector.

[ksupriya94]

In Argentina, Banco Masventas revealed that, starting next Monday, it will allow its customers to make cross-border payments using Bitcoin.

In partnership with the Latin American market startup, Dicks, founded in 2014, this bank will use Bitcoin as a means of payment for cross-border transactions, as an alternative to the traditional Swift system.

I didn't understand this anyone can send bitcoin themselves for any cross border transactions as a payment means then why anyone include bank in these transactions and if bank involved in theses transactions then i think purpose of bitcoin will not fulfilled.

[mahibul49]

i dont think any one will go to bank for making cross border payment with bitcoin.
bitcoin p2p transaction and bitcoin dosent need any 3rd party helper to complete a transaction.

[bloodyvio]

it's huge if in the future all banks also make cross-border payments
i know by using Crypto we become our own bank
but with a bank that provides cross-border payments, it also helps to spread about bitcoin or crypto
so that's good news

[Emilyp]

Cross - border payment is not limited to only Bitcoin, Blockchain has provided the technology that enables cross-border payment. Cryptocurrencies as a whole will helps banks make cross-border payments.

[Dudeperfect]

If they are doing it anything like this then it would be a path-breaking move from the banking industry because generally banks are worried about the growth of decentralized cryptocurrencies and as said by the experts, "Bitcoin will do to banks what emails did to the postal industry". It would be very beneficial for everyone if banks are adopting new technologies to optimize their service.

But then does it make sense? The banks adopting the cryptocurrency, the use of bitcoin. It is like slapping in there face that there is something better than you. But then we canmot say. There is a possibility that they will adopt this kind of improvement. It is like buying bitcoin over the counter, a face to face transactions maybe. Lets just see what will.going to happen in the future.

It is likely for the banks to create their own cryptocurrency or adopt something that is centralised like ripple protocol. However, accept it or not but decentralization is the future and if banking industry is expecting to survive in the modern world then it has to adopt blockchain technology in some way that will at least have the ability to compete with decentralized cryptocurrencies.

[Jocuserious]

That is good informative to everyone Bitcoin user,banks will accept in Bitcoin for the payment system I like this system.few countries do not accept in Bitcoin not now we want to him everyone countries will need accept bitcoin that is right for me.