Coinbase obtained a recording of virtual asset service (Vasp) with the Comisión Nacional de Valore (CNV) in Argentina, thus officially expanding its presence in the country. This regulatory penalty allows Coinbase to carry out business legally in Argentina, which is an essential component of its current global expansion strategy.
Regulatory milestone
Coinbase continued to obtain the authorization of regulators in Argentina to strengthen its place in the country while more and more people are starting to use cryptocurrencies, driven by economic problems and the rise in prices. Vasp recording guarantees that the legal status of Coinbase, which makes it one of the rare major cryptographic platforms to be operated on according to clear local regulations.
We are approved to launch in Argentina. 🇦🇷
This is an important step in our international strategy and another key chapter of our mission to increase economic freedom in the world. pic.twitter.com/bfudgiduvd
– Coinbase 🛡️ (@coinbase) January 28, 2025
In addition to granting Coinbase services in the legitimacy of Argentina, this step puts the exchange in a stronger position to compete with unregulated competitors. The exchange seeks to provide consumers with a reliable and secure platform for trade and investment in digital assets while respecting local regulations.
Matías Alberti is now in charge of Coinbase activities in Argentina. Alberti has an earlier experience to work with fintech companies like Clara and Buenbit. He will be responsible for supervising Coinbase growth on the Argentinian market.
Cryptocurrency request in Argentina increasing
Due to the country’s inflation rate and economic difficulties, there is a significant demand for Bitcoin and Stablecoins, making the Argentinian market a crucial arena for the adoption of cryptocurrencies. The regulatory sanction of Coinbase has placed the exchange in a solid position to meet the growing demand for digital assets of Argentines who seek to protect their investment.
Many Argentines believe that cryptocurrencies could be a solution to their economic problems, according to research that Coinbase has ordered. Based on research, 87% of Argentines think that cryptocurrency could help them become more independent financially, and 76% think that this can help them to deal with challenges such as high transactions prices and ‘inflation.
Coinbase strategy in Latin America
Given that more and more people and companies use cryptocurrency for financial security, Coinbase has the possibility of improving its links with the Argentinian people by registering as CNV.
Coinbase’s decision to enter Argentina is in accordance with its wider strategy to develop throughout Latin America, where there has been a significant increase in the popularity of Bitcoin. For the organization, which has already established offices in Brazil, Mexico and Colombia, among other countries in Latin America, Argentina represents an important turning point.
AP star image, tradingView graphic
