Crypto Exchange Coinbase Gains Approval to Launch in Argentina

Cryptocurrency exchange Coinbase has officially launched its platform in Argentina on Tuesday after receiving approval from the country’s National Securities Commission (CNV) to operate as a Virtual Asset Service Provider (VASP).

With this approval, Coinbase is now fully compliant with Argentina’s legal framework for virtual assets.

We're approved to launch in Argentina. 🇦🇷

This is an important step in our international strategy and another key chapter in our mission to increase economic freedom around the world. pic.twitter.com/bfudgiDuVD

— Coinbase 🛡️ (@coinbase) January 28, 2025

In a blog post, the exchange highlighted its focus on regulatory compliance, security, and education as it seeks to provide reliable cryptocurrency services to Argentinians.

Leadership and Market Potential

Coinbase has appointed Matías Alberti, an experienced fintech professional with a history at companies like Buenbit and Clara, to lead its operations in Argentina.

According to Fabio Plein, Coinbase’s Director for the Americas, Alberti’s leadership will be instrumental in expanding Coinbase’s presence in the region.

“Matías brings invaluable experience and a deep understanding of the local market,” said Fabio Plein, Coinbase’s Director for the Americas. “His leadership will be key in bringing secure and reliable crypto services to millions of Argentinians.”

Argentina’s economic challenges, such as high inflation and currency volatility, have made cryptocurrencies an attractive alternative.

A recent Coinbase study revealed that 87% of Argentinians view cryptocurrency as a path to financial independence, while 79% expressed openness to receiving salaries or payments in digital assets.

These figures underline the country’s growing interest in digital currencies as a solution to financial instability.

Coinbase’s Commitment to Security and Education in Argentina

Coinbase has emphasized its dedication to providing a safe environment for its users.

“Security and trust are at the core of Coinbase,” said Plein, reaffirming the company’s mission to build confidence among cryptocurrency users.

To enhance user engagement, Coinbase is investing in local educational initiatives aimed at improving financial literacy.

Argentina Expands Crypto Opportunities

In a related development, Argentina’s National Securities Commission (CNV) recently approved the trading of U.S. exchange-traded funds (ETFs), including crypto-related ETFs, under the CEDEAR program.

🤝 Argentina regulators approve US ETFs, including crypto-related products, enabling #BTC and Ethereum spot ETFs to trade for the first time.https://t.co/KV9XrBM6og

— Cryptonews.com (@cryptonews) December 10, 2024

The initiative, regulated by RG No. 1030, introduces Bitcoin and Ethereum spot ETFs, marking the end of a six-year prohibition under Law No. 27440.

In a December 10 statement, CNV President Roberto E. Silva expressed optimism, stating: “It is a pleasure to announce these first approvals, which constitute new investment options provided for in this very innovative law.”