With the rise of crypto they no longer have to move every all of their money, physically they can actually just move it over the wires. This has been great for them because it's reducing their costs of moving the money around which can pass on to the customer is better exchange rates. However, something that was very concerning to me when I went and spoke with some quavos last December doing some research for this project was realizing that they used Binance,. They have all their crypto inside of Binance.
Devon Zuegel talks with EconTalk host Russ Roberts about the crazy world of money and finance in Argentina. When inflation is often high and unpredictable, people look for unusual ways to hold their savings. And when banks are unreliable because of public policy, people look for unusual ways to keep their savings safe and to make financial transactions. Welcome to Argentina, where Zuegel finds surprising applications of cryptocurrency for solving problems.