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Highlights
- Coinbase secures regulatory approval in Argentina.
- Argentina's CNV provides a VASP license to Coinbase.
- The launch aligns with Coinbase's broader view of global expansion.
Coinbase, a prominent American-based publicly traded company, has made a significant foray into Latin America, receiving regulatory approval in Argentina. Securing a Virtual Asset Service Provider (VASP) license from the National Securities Commission (CNV), Coinbase plans to expand its operations in the local market.
Coinbase’s launch in Argentina aligns with the platform’s broader vision of global expansion. The VASP approval represents a major breakthrough in the crypto platform’s mission to expand global economic freedom.
Coinbase Secures VASP License in Argentina
In an astounding development, Coinbase secured a VASP license from Argentina’s regulators, the National Securities Commission (CNV). In an official statement, the firm stated, “This approval reinforces Coinbase’s commitment to providing a secure and compliant environment for users to trade and store their crypto assets.”
Coinbase, the top crypto exchange that owns more than 600 million users globally, aims to expand the community to 1 billion people in the near term. While a majority of the platform’s revenue comes from America, the firm seeks to rebalance its revenue mix by growing its presence in markets beyond the US.
Matías Alberti To Lead Coinbase Argentina
Coinbase has appointed Matías Alberti to helm its Argentina operations. His vast experience in the fintech sphere, illustrated by his lead roles in Buenbit and Clara, makes him a perfect choice to head the platform. As a seasoned expert in operations, strategy, and market growth, Matías will play a pivotal role in the platform’s expansion.
Notably, US Coinbase Director Fabio Plein remains confident about Matias’ expertise and his leadership qualities. Plein believes that Matias’ familiarity with the local market could help the platform’s expansion in the country.
Argentina’s Favorable Conditions Lure Crypto Exchanges
Significantly, Argentina remains one of the most crypto-friendly countries. In Latin America, the country boasts the largest crypto market in terms of adoption. Building on its existing presence in Brazil, Coinbase has chosen Argentina as a launchpad for its bold regional expansion plans. Emphasizing the country’s favorable conditions, Fabio Plein stated,
We see that, despite recent progress, the country still faces inflation, restrictive access to international markets, and the volatility of its currency. Because of all this, I think Argentina amplifies why the financial power of cryptocurrency is more important than ever.
It is notable that Coinbase’s license acquisition in Argentina follows Binance’s entry in October 2024. With the CNV approval, Binance established itself as a virtual asset provider in the country. However, Binance is facing investigation in France on alleged charges of money laundering, tax fraud, drug trafficking and more.
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