Coinbase has expanded its operations to Argentina, aligning with local regulations and launching educational programs to foster crypto adoption.
Leading crypto exchange Coinbase continues to deepen its market engagement, tapping into South America’s burgeoning crypto ecosystem. The exchange has announced its official launch in Argentina, following approval from the country’s National Securities Commission (CNV).
In a January 28 blog post, Coinbase revealed that it had secured a Virtual Asset Service Provider (VASP) registration, allowing it to operate under Argentina’s regulatory framework for digital assets. This move reinforces the company’s strategic ambitions in South America, where it already maintains a strong presence in Brazil.
The United States-based exchange has chosen key Argentinian crypto figure Matías Alberti, who previously served as country manager at crypto exchange Buenbit, to spearhead its operations in Argentina. “Alberti’s expertise in operations, strategy, and market expansion will be crucial to Coinbase’s success in [the country],” Coinbase explained.
Crypto Adoption in Argentina
Financial instability in Argentina is a long-standing issue characterized by high inflation, recurrent debt defaults, and restricted access to global financial markets. The country has defaulted on its debt nine times, with the most recent defaults occurring in the past two decades. These persistent economic challenges have driven many citizens toward cryptocurrencies as a viable financial alternative.
According to research commissioned by Coinbase, 87% of Argentinians believe that blockchain technology can help them achieve financial independence, while around 5 million Argentinians use cryptocurrencies daily. Moreover, 76% of Argentinians view crypto as a solution to their financial frustrations, and around 80% of respondents are open to receiving salaries or payments in digital currencies, underscoring the country’s growing adoption of digital assets.
Coinbase sees this expansion as a way to promote financial empowerment in the country. Fabio Plein, Director for the Americas at Coinbase, writes:
“For many Argentinians, crypto isn’t just an investment, it’s a necessity for regaining control over their financial futures.”
Coinbase’s local strategy also emphasizes crypto education, with plans to introduce educational initiatives aimed at helping users better understand and maximize the benefits of digital currencies.
Crypto Exchange Compliance
In Argentina, all cryptocurrency exchanges are required to register with the government and follow strict Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) rules. These guidelines mandate user identity verification and the reporting of transactions over $1,350 to combat illicit financial activities.
By entering Argentina with a firm commitment to compliance and user education, Coinbase positions itself as a key crypto service provider in the country.
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