By Mark Ackman
It is true that the cryptocurrency industry is facing a huge decline at present but other industries are also facing a similar situation.
Therefore, it does not mean that the cryptocurrency sector is moving toward its end. Instead, the industry is facing a natural downtrend due to rising economic pressure.
Despite the downtrend, the cryptocurrency industry has continued gaining mainstream attention as well as adoption. The sector is constantly growing more and more promising and its future is now secure.
Cryptocurrencies are constantly being adopted by mainstream institutions from around the world. A few years back, only the mainstream sector in the United States adopted cryptocurrencies.
Now, cryptocurrencies are being adopted by mainstream institutions throughout the globe.
Uala Adopts Crypto
Just recently, Uala, a fintech firm based in Argentina, announced the adoption of cryptocurrencies. The firm has confirmed that it has entered the cryptocurrency industry.
Uala has entered the crypto industry and now, it wants its users to benefit from cryptocurrencies. The officials have announced that they have launched trading services for cryptocurrencies.
The teams working on the crypto trading platform at Ualah have confirmed that the users would be able to interact with Bitcoin (BTC) and Ether (ETH).
For now, Uala’s customers based in Argentina would be able to trade in BTC and ETH, the largest cryptocurrencies in the cryptoverse.
Andres Rodriguez Ledermann Explains Uala’s Plan
The Wealth Management department’s VP (Andres Rodriguez Ledermann) at Uala talked about the plan the company is going to follow for crypto expansion.
He revealed that in the initial run, they plan to offer BTC and ETH trading services to a few thousand users based in Argentina.
They want to see the response they get from these users and get their feedback to make more decisions related to the crypto offering.
Ledermann did mention that they have plans of rolling out the trading feature to all of their users in the upcoming weeks. As of now, Uala has a total of 4.5 million customers in Argentina.
Uala’s Current Offering
Uala has confirmed that for now, the users would have access to purchasing and selling cryptocurrencies through their platform.
The option of withdrawing cryptocurrencies or funds would not be available through the platform. Uala has also set a minimum transaction size so that the users can transact through their platform.
As communicated by the officials, the minimum transaction size through their crypto platform would be 250 pesos, which translates to $0.83.
Offering in More Countries
For now, the platform plans on offering cryptocurrency services in Argentina. The platform may expand its offering to customers who are based outside of Argentina.
Uala has a strong customer base in countries such as Colombia and Mexico. Although Rodriguez did not talk about these countries, he did not rule out the possibility of their expansion in these territories either.