Coinbase has expanded its operations to Argentina after obtaining Virtual Asset Service Provider (VASP) registration from Argentina’s National Securities Commission (CNV).
This authorization allows Coinbase to operate under the country’s regulatory framework for virtual assets as it introduces its services in the coming months. The company plans to offer localized features, including Spanish-language support, local payment options, and dedicated customer service.
Argentina has seen increasing adoption of digital assets, driven by economic challenges such as inflation, currency volatility, and limited access to international markets. Many individuals view cryptocurrency as a way to achieve greater financial independence and protect their assets from devaluation.
According to research commissioned by Coinbase, 87% of Argentinians believe that blockchain technology and digital assets can help improve their financial situation, while 76% consider crypto a potential solution to financial challenges such as inflation and high transaction fees. Additionally, 79% of respondents expressed openness to receiving salaries or payments in cryptocurrency. The company estimates that around five million Argentinians use digital assets daily.
Coinbase states that its expansion aligns with its broader goal of increasing access to financial services through digital assets. By entering the Argentine market, the company aims to provide a secure and regulated platform for buying, selling, and using cryptocurrency. The company emphasizes that its platform adheres to strict security protocols, incorporating fraud prevention measures and compliance with regulatory requirements.
Helping the locals
Another component of Coinbase’s strategy in Argentina is its focus on financial education. The company plans to launch local initiatives aimed at informing users about cryptocurrency and blockchain technology, with the goal of improving financial literacy and helping individuals navigate the digital asset ecosystem.
Argentina is one of several markets Coinbase has targeted as part of its global expansion strategy. The company continues to broaden its presence in regions where demand for alternative financial solutions is increasing, particularly in economies affected by financial instability.
Source: The Paypers
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