Argentina incorporates digital exchange houses
This measure was released in order to face the gap that exists with the value of the dollar in the Latin American nation
Argentina incorporated this week the first 100% digital exchange houses, which come with the intention of reducing the dollar cost gap.
“In banks that spread reaches 3% and we, with lower fixed costs, can lower it to 1.5%,” said Claudio Porcel CEO of Balanz, the company in charge of implementing this savings and investment option.
The operation is similar to that of digital banks. Transactions can be made through mobile devices where users must upload personal data. In addition, a personal photograph must be included, which is sent to the National Registry of Persons (RENAPER) to validate the identity.
After 24 hours the account will be fully operational and ready to receive funds from any associated bank account.
In addition to buying and selling dollars, Balanz offers the possibility for the saver chooses between different investment options that offer more profitability than the sale of currencies, such as common funds in pesos or dollars with varying degrees of risk, stocks, bonds.
“It is a platform that works with artificial intelligence, so each user will be offered products according to their risk profile,” explained Porcel to the media.
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