A massive development for the company, Coinbase has received regulatory approval to launch crypto services in Argentina. Indeed, the US-based cryptocurrency exchange announced the newest location of its global expansion in a recently issued press release.
Argentina has continued to emerge as a promising region for cryptocurrency growth. Specifically, 5 million Argentinians utilize cryptocurrency in their daily lives, Coinbase reported. Now, the platform is set to aid that pursuit as they expand their operations into the Southern American nation.
We're approved to launch in Argentina. 🇦🇷
This is an important step in our international strategy and another key chapter in our mission to increase economic freedom around the world. pic.twitter.com/bfudgiDuVD— Coinbase 🛡️ (@coinbase) January 28, 2025
Also Read: Coinbase Launches Bitcoin Loans for US Users
Coinbase Gets Regulatory Approval in Argentina
Entering the year 2025 was always viewed as a monumental year for cryptocurrencies. The United States was poised to enjoy an overhaul to its crypto policies as US President Donald Trump was set to return to the Oval Office. His arrival has transformed the country’s crypto potential.
Yet they are certainly not alone. The drive to embrace the asset class has persisted across the globe. Now, companies are looking to expand along with the driving demand. The latest example is Coinbase, which has received regulatory approval to launch crypto services in Argentina.
Also Read: Coinbase Endorses Strategic Bitcoin Reserve in US
The US-based cryptocurrency exchange acquired a Virtual Asset Service Provider (VASP) registration in the country. Specifically, it was granted by Argentina’s National Securities Commission (CNV) and allows operations in the nation’s legal framework for cryptocurrencies.
The company has also announced that Matias Alberti will lead Argentinian operations. Moreover, it noted the move will help develop a country hungry for crypto options. According to the firm, 87% of Argetninains believe the asset class “can help them achieve greatest financial independence.”
Additionally, 76% of adults see the asset class as a “solution to their financial frustrations,” driven by inflation and transaction costs. The growth of the industry has been undeniable, and it should bring increased financial freedom to nations in desperate need.