Taringa, an Argentina-based social network platform, has collaborated with wallet and custodial service provider Xapo and will be able to tip its content creators in bitcoin.
Taringa has nearly 75 million monthly users, facilitates creating and sharing information on its platform from people all around the world.
"By partnering with Xapo, we have found an excellent revenue share model to incentivise our content creators. Bitcoin's penetration in South America is incipient, almost a rarity, so we believe our users will perceive the bitcoin payouts very positively, thus encouraging people to join the programme whilst stimulating mainstream adoption of bitcoin", according to a loosely translated statement by Hernán Botbol, Taringa's co-founder.
He stressed that Xapo's strategic position in the South American market was a crucial factor in their decision to partner with the company.
"We chose Xapo because it is one of the safest bitcoin wallets out there and because their strategy is placed on the Hispanic market. The company is led by a group of Latin American entrepreneurs and that means that they really understand our market and the needs of the millions of users in the region," he said.
Wences Casares, founder and director of Xapo, pointed out that bitcoin could benefit Argentina's large unbanked population.
"The partnership will provide a unique opportunity for many people to try out how bitcoin works and to gage the digital currency's reception in the region. South America is an interesting market because of its increasing Internet penetration and its community of early adopters of technology who still do not have access to bitcoin", he said.
