Crypto Exchange Coinbase (Coin) said it received regulatory approval to offer users in Argentina.
The company received a virtual asset provider (VASP) registration from Argentina’s National Securities Commission (CNV), it said in a blog post on Tuesday.
The expansion is part of the exchange’s mission to increase economic freedom globally. By 2023, Coinbase launched its services in Brazil as a first push in the Latin American region.
About 5 million Argentines use crypto on a daily basis, Coinbase said, and 76% of adults see crypto as a solution to some of their financial frustrations, including high inflation and transaction costs. Operations will be led by Matìas Alberti, who previously worked in the Fintech field at Buenbit and Clara.
Coinbase shares were slightly changed at the start of the NASDAQ trade. They have added 8% this year to $ 277.84 at the time of the press, where they roughly track the price of Bitcoin (BTC).
Update (January 28, 15:11 UTC): Adds additional details about Coinbases expansion of Latin America.
