As President Javier Milei tightens currency controls to prop up the peso ahead of midterm elections, Argentines like Ruben López are turning to cryptocurrencies to protect their savings.
A new strategy involves using stablecoins — digital tokens pegged one-to-one with the US currency — to take advantage of Argentina’s official exchange rate, which currently values the peso about seven percent higher than the parallel market rate. The trade goes like this: buy dollars and immediately trade them in for stablecoins. Then, swap those tokens for cheaper market-rate pesos. The arbitrage play, also known as a “rulo,” can yield a quick profit of as much as four percent on each transaction, crypto brokers say
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