Argentina has incorporated Bitcoin (BTC) as a means of topping up its state public transport card SUBE (Sistema Único de Boleto Electrónico).
Bitex, a blockchain-based financial services provider, has linked up with Alto Viaje, a local platform for adding funds to SUBE cards. The advantage being that money can be added to the SUBE card using BTC, via Alto Viaje’s website.
Speaking to a news publication, chief marketing officer of Bitex, Manuel Beaudroit, said that SUBE’s card caters to the travel needs of seven million people across 37 locations in the Latin-American country. The card can be used to travel by bus, train or subway.
He stated that Alto Viaje was no newcomer to such a concept, having previously collaborated with PayPal and Rapipago, a local digital payments system.
The main goal of this project, as Beaudroit explains, is to provide the Argentinian public a wider access to “such a revolutionary technology, as Bitcoin.”
The country’s national bank, Banco de la Nación Argentina, seems to be actively involved in this venture, with its subsidiary, the Nacion Servicios S.A., being the technology provider responsible for SUBE.
The Latin country is one of the very first and few countries to partner with a blockchain-based firm and integrate crypto assets into its public transportation system.
UK’s public transport provider Go-Ahead Group Plc. is another to have entered into a partnership with blockchain firm DOVU to launch a new type of crypto token for its rail users.
The agreement will allow DOVU to launch the platform, which would award “DOV”, a native ERC-20 token, to customers of the rail network for sharing their travel data.