{"id":291276,"date":"2023-01-23T11:25:50","date_gmt":"2023-01-23T11:25:50","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=291276"},"modified":"2023-01-23T11:21:04","modified_gmt":"2023-01-23T11:21:04","slug":"coinbase-ceo-suggests-btc-as-alternative-for-brazil-and-argentinas-common-currency","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/coinbase-ceo-suggests-btc-as-alternative-for-brazil-and-argentinas-common-currency\/","title":{"rendered":"Coinbase CEO suggests BTC as alternative to proposed new S. American currency ‘sur’"},"content":{"rendered":"

Coinbase<\/a> CEO Brian Armstrong<\/a> suggested utilizing Bitcoin (BTC<\/a>) instead of building a new currency from scratch in response to Brazil and Argentina's joint venture to establish a shared currency.<\/p>\n

Brazil and Argentina will meet during a summit in Buenos Aires to discuss a more detailed plan, according to the Financial Times (FT). The as-yet-unnamed currency has been rumored to be named “sur,” which translates to “south” in English.<\/p>\n

Armstrong said that adopting BTC would yield better results in the long term.<\/p>\n

Deployment of a common currency<\/h2>\n

Right now, the plans suggest that the currency would run parallel with the local currencies of Brazil and Argentina at first.<\/p>\n

Argentina's Minister of Economy, Sergio Massa, spoke to Financial Times and said:<\/p>\n

\u201cThere will be\u2009.\u2009.\u2009.\u2009a decision to start studying the parameters needed for a common currency, which includes everything from fiscal issues to the size of the economy and the role of central banks,<\/p>\n

…it\u2019s the first step on a long road which Latin America must travel.\u201d<\/p><\/blockquote>\n

This project is expected to boost regional trade and diminish the region's reliance on the U.S Dollar in the long run.<\/p>\n","protected":false},"excerpt":{"rendered":"

Coinbase CEO Brian Armstrong suggested utilizing Bitcoin (BTC) instead of building a new currency from scratch in response to Brazil and Argentina’s joint venture to establish a shared currency. Brazil and Argentina will meet during a summit in Buenos Aires to discuss a more detailed plan, according to the Financial Times (FT). The as-yet-unnamed currency […]<\/p>\n","protected":false},"author":1262,"featured_media":291357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nCoinbase CEO suggests BTC as alternative to proposed new S. 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