Coinbase CEO suggests BTC as alternative to proposed new S. American currency ‘sur’
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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 has been rumored to be named “sur,” which translates to “south” in English.
Armstrong said that adopting BTC would yield better results in the long term.
Deployment of a common currency
Right now, the plans suggest that the currency would run parallel with the local currencies of Brazil and Argentina at first.
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