Argentine state-owned energy giant weighs crypto payments for fuel: Report

Argentina's state-controlled energy company, YPF, is reportedly exploring the possibility of allowing customers to pay for gasoline and diesel using cryptocurrency, following its recent introduction of US dollar transactions at its fuel stations. This potential system would likely utilize a third-party processor, such as Lemon, Ripio, or Binance, to manage the conversion from crypto to fiat currency, mirroring the mechanics already in place for US dollar purchases which involve scanning a QR code and transferring funds to YPF's account at Banco Santander. This development occurs as Argentina shows growing crypto adoption, ranking 20th globally, despite recent economic volatility and controversies involving President Javier Milei and a memecoin. Furthermore, a planned $20 billion US-backed bailout for Argentina was recently shelved, with lenders now discussing a smaller, $5 billion repo-style loan instead.

(Source：Cointelegraph)