Argentina is moving to adopt virtual currencies as payment options for its citizens, and it is using bitcoin to do it.
The country’s government announced on Wednesday that it will start accepting bitcoin payments on its official financial services website.
The announcement comes after a month-long investigation by Argentina’s Central Bank found that bitcoin had become a popular way for its population to pay for goods and services.
Argentina has a history of using bitcoin for its everyday payments, but it has struggled to get mainstream adoption.
The country’s central bank has said that virtual currencies could be a way to ease inflation, and its president, Mauricio Macri, said last year that the country could use virtual currencies to finance infrastructure projects.
In a statement, the central bank said bitcoin was a “simple, transparent and transparent” way to pay, noting that the use of bitcoin in Argentina would allow it to pay out its debts without being forced to do so by the government.
Arriving in Argentina as a virtual currency is a way of reducing the country’s dependence on Western financial institutions.
Argentina’s currency, the peso, has lost about 80 percent of its value against the dollar since April.
Argentina has about $60 billion in its foreign reserves.