Coinbase enters the Argentine market with an official license
January 29, 2025
The cryptocurrency exchange Coinbase has received official approval from Argentine regulatory authorities, opening new opportunities for users. The company can now offer local payment methods and expand its services in Argentine pesos.
What does this mean for Coinbase?
The National Securities Commission of Argentina (CNV) has registered Coinbase as a Virtual Asset Service Provider (VASP). This will allow the company to integrate local payment methods, providing customers with convenient ways to buy and sell cryptocurrencies.
Coinbase has been present in Argentina since 2019, offering basic cryptocurrency operations, but only now has the exchange received the ability to legally expand its range of services. A company representative noted that while certain functions were previously operational under legal frameworks, the new licensing approval will enable the introduction of new products and services.
Market impact
Following Binance, Coinbase has now been approved to operate in the country, further institutionalizing the crypto market. The company also plans to invest in educational initiatives to improve crypto literacy.
Popularity of digital assets in Argentina
Amid inflation and currency instability, 76% of Argentinians consider cryptocurrency a financial alternative. According to data, the country has surpassed Brazil in crypto inflow, with transaction volumes reaching $91 billion between July 2023 and June 2024.