Soccer Transfer in Crypto: São Paulo Paid $8 Million in USDC for Banfield Player

The first cryptocurrency transfer in Argentina’s soccer history upset the country’s central bank, which banned Banfield from operating the MULC for the next 90 days.

As a result, Galoppo became the first soccer player sold in exchange for digital assets in Argentina, while Bitso mediated the deal.Argentina’s economic condition is not in its best shape. One of the largest countries in South America has been facing numerous issues, including political crisis, galloping inflation, and unemployment in the past decades.

by Bloomberg, the elite soccer Argentinean club – Club Atlético Banfield – sold its 23-year-old midfielder Giuliano Galoppo to one of Brazil’s most successful teams – São Paulo – for $8 million worth of USDC.The token is a digital currency issued by the American financial services and payment company Circle, pegged 1:1 to the value of the US dollar.

Source: Digital Coin News (digitalcoinnews.net)

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