Altcoins

Coinbase Secures Regulatory Approval To Expand Services In Argentina

Coinbase has received official approval from Argentina to expand its services in the country, the exchange said in a Tuesday blog post.

By Ruholamin Haqshanas

Last Updated: Jan 29, 2025

Fact checked

By Akriti Seth

Coinbase Secures Regulatory Approval to Expand Services in Argentina

Coinbase has received official approval from Argentina’s National Securities Commission (CNV) to expand its services in the country, the exchange said in a Tuesday, 28 January 2025, blog post.

The virtual asset service provider (VASP) registration allows the exchange to introduce new offerings, including local payment methods in Argentine pesos, as it strengthens its presence in the Latin American market.

Having operated in Argentina since 2019, Coinbase initially offered crypto-to-crypto conversions and trading. However, with this regulatory green light, the exchange can now operate within the country’s legal framework for virtual assets, enabling it to roll out a broader range of services.

EXPLORE: Best New Cryptocurrencies to Invest in 2025

Coinbase’s Approval Comes After Binance Registration

The approval follows Binance’s successful registration as an official crypto service provider in Argentina last October. As competition in the Argentine market intensifies, Coinbase is also investing in local educational initiatives aimed at improving crypto literacy among citizens.

Fabio Plein, Coinbase’s director for the Americas, emphasized the importance of cryptocurrency in Argentina’s economic landscape.For many Argentinians, crypto isn’t just an investment; it’s a necessity for regaining control over their financial futures,he said.

Argentina faces one of the highest poverty rates in the world, with 53% of its population living below the poverty line—the highest level in two decades, according to the Argentine Catholic University.

In light of these economic struggles, many citizens have turned to digital assets as a hedge against inflation and financial instability.

Coinbase’s recent State of Crypto report, published on Jan. 21, revealed that 76% of Argentine adults view cryptocurrency as a solution to economic challenges such as inflation and high transaction costs.

In a survey of nearly 5,000 individuals across Argentina, Kenya, Switzerland, and the Philippines, 87% of Argentine respondents believed that crypto and blockchain technology could enhance financial independence.

EXPLORE: 10 Coins with High Returns: Crypto Forecast 2025

Argentina Emerges as a Crypto Leader in Latin America

Argentina’s increasing reliance on digital assets is reflected in its rising crypto adoption rates. According to Coinbase, approximately five million Argentinians—out of a population of 46 million—use cryptocurrency in some form daily.

A report from Chainalysis in October 2024 found that Argentina had surpassed Brazil as the top Latin American country in terms of crypto inflows, recording $91 billion in transactions between July 2023 and June 2024.

Additionally, Argentina has one of the world’s most active stablecoin markets, with stablecoin transactions playing a crucial role in its digital economy.

There is a strong preference for long-term crypto investments over day trading among Latin American investors, according to a survey by Binance.

The survey included responses from 10,000 users across key Latin American markets such as Argentina, Colombia, Brazil, and Mexico. It reveals insightful data on the regional adoption of cryptocurrencies.

EXPLORE: 15 New & Upcoming Coinbase Listings to Watch in 2025

Disclaimer Icon
Disclaimer
Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

Free Bitcoin Crash Course

  • Enjoyed by over 100,000 students.
  • One email a day, 7 days in a row.
  • Short and educational, guaranteed!

Key Takeaways

  • Coinbase has secured regulatory approval from Argentina’s National Securities Commission (CNV).
  • With 53% of Argentinians living below the poverty line, many have turned to cryptocurrency as a hedge against inflation.
  • A Chainalysis report found that Argentina surpassed Brazil in crypto inflows, recording $91 billion in transactions between July 2023 and June 2024.

Why you can trust 99Bitcoins

10+ Years

Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.

90hr+

Weekly Research

100k+

Monthly readers

50+

Expert contributors

2000+

Crypto Projects Reviewed

Google News Icon
Follow 99Bitcoins on your Google News Feed
Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now
Ruholamin Haqshanas
Ruholamin Haqshanas
Crypto Journalist

Ruholamin Haqshanas is an accomplished crypto and finance journalist with over three years of experience. He has been featured in various high-profile outlets, including Cryptonews.com, Investing.com, 24/7 Wall St, and Business2Community. Read More

Back to top