Coinbase has gained Argentina’s National Securities Commission (CNV) approval to operate as a Virtual Asset Service Provider (VASP).
This development marks a key step in the company’s global expansion efforts, enabling it to offer services under Argentina’s legal framework.
The crypto exchange platform’s expansion into Argentina aligns with findings from its State of Crypto report for Q4 2024, released on January 21. The report revealed that 76% of adults in Argentina see cryptocurrency as a viable solution to pressing financial issues like inflation and high transaction costs. By entering the Argentine market, Coinbase aims to address these concerns, offering a secure platform for locals to access crypto services and an effective hedge against financial instability.
Matías Alberti, a former fintech executive at Buenbit and Clara, will lead Coinbase’s operations in Argentina. His expertise in fintech and market expansion is expected to help Coinbase navigate the local market and foster growth in the country’s rapidly growing crypto ecosystem.
A key part of Coinbase’s strategy in Argentina is to prioritize economic freedom, with the company emphasizing the potential for cryptocurrency to empower Argentinians seeking financial independence. In addition to security and regulatory compliance, the company will focus on user education, launching local initiatives to boost crypto literacy and help users confidently navigate the ecosystem. Its expansion into Argentina aligns with its mission to promote global economic freedom by providing secure and transparent cryptocurrency services.
Similarly, HashKey Europe, the European arm of Hong Kong’s cryptocurrency exchange, has strengthened its presence in Ireland by obtaining a Virtual Asset Service Provider (VASP) license from the Central Bank of Ireland. This development ensures compliance with the EU’s Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) regulations, as well as the Markets in Crypto-Assets Regulation (MiCA). As a result, HashKey is now positioned to offer a comprehensive range of crypto services, including exchanges and custodial wallet services, while adhering to new industry standards.
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