Argentina has phased out its popular five peso note – but a cryptocurrency company has issued something of a digital replacement – in the form of a commemorative coin with a value redeemable in .
Per TyN Magazine, the five peso bill featured a portrait of the 19th-century historical figure Jose de San Martin, known as “El Libertador of Argentina.”
San Martin was a Spanish-Argentine general who led many South American nations – including Argentina – in their fight for independence from the Spanish Empire in the early 1800s.
The public’s affection for San Martin is believed to be one of the reasons why many Argentines were so sad to see the five peso note (USD 0.08) go out of circulation on the last day of February.
But a company named Ripio says it has issued a commemorative coin that features a portrait of San Martin on the front, while on its inverse side is a QR code that, when activated, will allow its owner to access bitcoin funds.
The same media outlet quotes Sebastian Serrano, the CEO of Ripio, as equating San Martin’s view of freedom with the financial independence that bitcoin can offer.
The CEO stated,
“Bitcoin is the first step towards a new economy, and a future that is more transparent, democratic and accessible than that offered by traditional financial services. This coin […] carries the legacy of San Martin to the economy of the future.”
Meanwhile, also in Argentina, the provincial deputy of Mendoza Josefina Canale has won both support and criticism after proposing the launch of a local digital coin.
