Coinbase has obtained a Virtual Asset Services Provider license in Argentina, allowing it to operate legally in the crypto market and compete with Binance. The company focuses on community engagement and building local business relationships.
License to Operate in Argentina
Coinbase has obtained a Virtual Asset Services Provider license in Argentina, enabling it to legally operate in the country's growing crypto market. This allows Coinbase to compete with Binance, which secured the same license in October.
Competition with Binance
Instead of expanding throughout Latin America, Coinbase is focusing on local business relationships. The company is committed to global regulatory compliance: it recently delisted Tether in the EU and may do the same in the US. Coinbase is also making progress in its legal case with the SEC, hopeful about the outcome. In Argentina, President Javier Milei supports Bitcoin, aligning with Coinbase CEO Brian Armstrong's vision.
Local Initiatives
Coinbase has hired local entrepreneur Matías Alberti to lead its expansion in Argentina. Alberti plans to leverage his business network to help Coinbase grow. As the country becomes more open to new companies, Coinbase aims to attract users by focusing on security, consumer protection, and crypto education. These initiatives will help Argentinians gain knowledge and confidence in exploring crypto financial opportunities.
Coinbase aims to solidify its presence in Argentina, focusing on developing a robust local crypto community without plans for regional expansion.
