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Coinbase Leads Pre-Market Gains After Expanding Services in Argentina

Coin WorldTuesday, Jan 28, 2025 1:01 pm ET

1min read

Coinbase, a leading U.S. cryptocurrency exchange, is leading pre-market gains as the broader U.S. crypto sector sees positive movement. The company's stock price has surged following its announcement of expanded services in Argentina, where it has received regulatory approval to operate as a Virtual Asset Service Provider (VASP).

Coinbase's entry into the Argentine market comes at a time when the country is grappling with high inflation, currency volatility, and limited access to international markets. The company's research indicates that 87% of Argentinians believe crypto can help them achieve greater financial independence, while 76% view it as a solution to inflation and transaction costs.

Matías Alberti, previously of Buenbit and Clara, will lead Coinbase's operations in Argentina. The company plans to launch educational initiatives focused on financial literacy and understanding of the crypto ecosystem. This expansion follows Coinbase's earlier entry into Brazil, strengthening its presence in Latin America.

Coinbase's regulatory approval in Argentina is a significant step in its international strategy and another key chapter in its mission to increase economic freedom around the world. The company's focus on security and compliance positions it as a trustworthy platform in a market where user trust is critical.

The broader U.S. crypto sector has seen positive movement, with Coinbase's gains reflecting a broader trend of optimism in the market. As the regulatory landscape continues to evolve, investors are increasingly looking to established exchanges like Coinbase for secure and compliant access to the crypto market.

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