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Argentinean soccer club welcomes first crypto signing amid economic downturn

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cointelegraph.com

Argentina’s economic restrictions have reached the sports industry, with the first signing of a local football player with cryptocurrencies hitting national headlines.The transfer of midfielder Giuliano Galoppo from Banfield's Athletic Club to Sao Paulo Futebol Clube was made in USD Coin (USDC), exceeding $6 million and up to $8 million depending on the volatile exchange rate of the Argentine peso, according to local sources.

The transfer was made possible through a collaboration with the Mexican crypto exchange Bitso. “We are very proud to work with these two clubs for this historical signing of Sao Paulo with all the safety, transparency and flexibility that the crypto economy has to offer,” said Thales Freitas, Bitso’s director in Brazil.The transfer happened amid a difficult economic situation for Argentinian sports clubs.

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