On January 28, 2025, Coinbase announced it has received approval from Argentina's National Securities Commission (CNV) to launch its cryptocurrency services in the region. This move is significant for a market facing economic challenges, where many citizens already turn to cryptocurrencies.
Regulatory Approval for Coinbase in Argentina
Coinbase received permission from Argentina's National Securities Commission to operate as a Virtual Asset Service Provider (VASP) within the country's legal framework.
Economic Challenges and the Role of Cryptocurrency
In Argentina, over 5 million people engage with cryptocurrencies daily due to economic issues such as high inflation and currency instability. Cryptocurrencies are seen as a viable option for financial security. A survey by Coinbase revealed that 87% of Argentinians believe cryptocurrencies enhance financial autonomy, and 76% view them as a solution to inflation and transaction costs.
Coinbase's Plans in Argentina
Coinbase appointed Matías Alberti to lead its operations in Argentina, confident in his experience with local companies like Buenbit and Clara. Beyond the trading platform, Coinbase plans to implement educational initiatives to increase financial literacy, empowering Argentinians to better navigate the complex world of cryptocurrencies.
Coinbase's expansion into Argentina strengthens its presence in Latin America following its entry into Brazil. The company aims to provide secure and compliant services that meet the unique needs of users in the region.
