Kraken Expands Latin America Services With Local Currency Funding

Kraken, a prominent cryptocurrency exchange, has broadened its services in Latin America by introducing local currency funding options in Argentina and Mexico, two of the region’s most active crypto markets. This expansion is part of Kraken’s ongoing effort to establish itself as a trusted, compliant, and localized infrastructure to support global crypto adoption.

In Argentina, Kraken now offers ARS deposits through local payment methods, providing faster and simpler access to its suite of crypto services. The exchange is also registered as a Virtual Asset Service Provider (VASP) with Argentina’s Comisión Nacional de Valores (CNV), ensuring full compliance with local regulations. This move is particularly significant given Argentina’s high inflation rates, where crypto, especially stablecoins, has become essential for saving and sending money.

In Mexico, Kraken’s new integrations allow clients to deposit MXN via trusted domestic payment methods. Mexico is recognized as a regional leader in crypto activity, blockchain innovation, and retail adoption. The deposits in both countries are automatically converted to US dollars at competitive and transparent foreign exchange rates, eliminating the need for international wire transfers or third-party apps.

Kraken’s decision to expand into Argentina and Mexico is driven by the growing importance of crypto in both regions. The exchange aims to provide localized tools to millions of current and future crypto clients, enabling them to fully participate in the global crypto economy with trust, security, and ease.

This expansion comes on the heels of Kraken’s launch of a peer-to-peer payments app, which allows users to send and receive funds in both cryptocurrency and fiat currency across more than a hundred countries. This move positions Kraken in direct competition with traditional financial payment systems, further diversifying its offerings beyond digital asset trading.

Kraken’s spokesperson highlighted the dismissal of the civil lawsuit by the U.S. Securities and Exchange Commission (SEC) as a turning point for the cryptocurrency industry. The spokesperson stated that the dismissal marked the end of a politically motivated campaign that hindered innovation and investment, allowing Kraken to thrive and expand its product portfolio rapidly.

Looking ahead, Kraken plans to launch several products via its new payment app, including physical and virtual cards, as well as pay-in-advance services like loans. This strategic move underscores Kraken’s commitment to providing comprehensive financial solutions to its global user base, further solidifying its position as a leader in the cryptocurrency market.