Source: iStock/Vitoria Holdings LLC

Argentina has phased out its popular five peso note but a cryptocurrency company has issued something of a digital replacement in the form of a commemorative coin with a value redeemable in bitcoin (BTC).

Per TyN Magazine, the five peso bill featured a portrait of the 19th-century historical figure Jos de San Martn, known as El Libertador of Argentina.

San Martn was a Spanish-Argentine general who led many South American nations including Argentina in their fight for independence from the Spanish Empire in the early 1800s.

The publics affection for San Martn is believed to be one of the reasons why many Argentines were so sad to see the five peso note (USD 0.08) go out of circulation on the last day of February.

But a company named Ripio says it has issued a commemorative coin that features a portrait of San Martn on the front, while on its inverse side is a QR code that, when activated, will allow its owner to access bitcoin funds.

The same media outlet quotes Sebastin Serrano, the CEO of Ripio, as equating San Martns view of freedom with the financial independence that bitcoin can offer.

The CEO stated,

Bitcoin is the first step towards a new economy, and a future that is more transparent, democratic and accessible than that offered by traditional financial services. This coin [] carries the legacy of San Martn to the economy of the future.

Meanwhile, also in Argentina, the provincial deputy of Mendoza Josefina Canale has won both support and criticism after proposing the launch of a local digital coin.

Watch the latest reports by Block TV.

Canale says that if the province were to launch its own digital token, it would allow Mendoza to assert more financial independence.

The politician took to Twitter to state that she was currently looking into proposals to launch a local version of a Central Bank Digital Currency (CBDC) for Mendoza, and even allow residents to pay taxes in the token.

However, although many commenters voiced their support, a large number tweeted their objections, saying the project would likely hit too many legal hurdles.

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Bitcoin-powered Alternative to Five Peso Note Issued in Argentina - Cryptonews