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Coinbase Brings Crypto Hope to Inflation-Stricken Argentina

Coin WorldThursday, Jan 30, 2025 2:15 pm ET

1min read

Coinbase, a leading U.S.-based cryptocurrency exchange, has secured regulatory approval to operate in Argentina, the second-largest economy in South America. The company received a Virtual Asset Service Provider (VASP) registration from the country's National Securities Commission (CNV), allowing it to expand its reach and better serve Argentina's crypto users.

Coinbase plans to offer localized services in Argentina, including local payment methods and customer support, to help users navigate the challenges of inflation and financial instability. According to a research commissioned by Coinbase, 87% of Argentinians believe that crypto and blockchain technology can help them achieve greater financial independence, while 76% see crypto as a solution to some of their financial frustrations.

Fabio Plein, Director for the Americas at Coinbase, stated, "For many Argentinians, crypto isn't just an investment; it's a necessity for regaining control over their financial futures." Argentina already has a significant crypto user base, with 5 million of its 47 million people using cryptocurrency daily. Coinbase plans to launch local educational initiatives to provide users with the knowledge and confidence to navigate the digital asset space.

By addressing the unique needs of the Argentine market and focusing on security, compliance, and education, Coinbase is advancing its vision of a more inclusive financial future. This expansion into Argentina further solidifies Coinbase's position as a global leader in the cryptocurrency industry.

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