Coinbase received approval to launch its platform in Argentina after having successfully registered as a virtual asset service provider (Vasp) with National Argentina Securities Commission (CNV), according to an advertisement January 28.
Fabio Plein, director of Coinbase for the Americas, stressed that the crypto “is not only an investment” for Argentines, but rather a necessity to regain control of their financial future.
This approval allows Coinbase to operate in the country, which the company describes as a “promising market”.
According to research ordered by Coinbase, 87% of Argentines believe that blockchain technology can improve financial independence, while 76% consider crypto as a solution to combat inflation and high transaction costs.
In addition, around 79% are open upon receipt of crypto wages or payments, and more than 5 million Argentinians already use the crypto daily.
Coinbase appointed Matías Alberti at the head of his operations in Argentina to navigate the new market. Alberti’s experience includes leadership roles in Latin American companies such as Buenbit and Clara, signaling expertise on the cryptography market and in the region.
Full pointed out:
“Matías brings a richness of experience and an in -depth understanding of the local market. We have confidence in his leadership when we work to provide crypto services to millions of Argentines. »»
In addition, Coinbase engages in financial literacy in Argentina. The company plans to deploy local educational initiatives to provide users with the knowledge necessary to make informed decisions on the crypto.
The educational thrust of Coinbase will allow Argentines to navigate in the opportunities and challenges in crypto, added full.
Stable -based market
The “crypto geography of the chain chain” ranks Argentina as a 15th country in terms of crypto adoption and the fourth in Latin America.
Although it is not directed in terms of crypto adoption, Argentina led the amount of the cryptographic money received, exceeding $ 91 billion. The amount is even greater than that of Brazil, which is the greatest economy in Latin America and the country with the best clue to the cryptography of the region.
In particular, 61.8% of this amount is denominated in the stabbed, which places Argentina above the global average of 44.7%. The report pointed out that this is linked to hyperinflation suffered by Argentines, because stable transactions of less than $ 10,000 are accelerated in the country faster than any other type of asset.
In addition to the amount received in crypto, Argentina also makes fundamental movements concerning blockchain technology. In August 2024, Ethereum became part of the secondary school study program in Buenos Aires thanks to a partnership with the ETH Kipu organization.
The Argentine capital has also launched a program using the blockchain of layer 2 of Ethereum, Zksync, to record 3.6 million numerically residents. Resident IDs will be available on their mobile phones.
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