Coinbase She obtained approval to launch her platform in Argentina after successful registration as a virtual asset service provider (VASP) with the National Securities Committee (CNV), according to January 28. advertisement.
Fabio Blain, director of Coinbase for the Americas, highlighted that Crypto is “not just an investment” for the Argentine, but rather a necessity to regain control of their financial future.
This approval enables Coinbase to work in the country, which the company describes as a “promising market”.
According to the research commissioned by Coinbase, 87 % of Argentine believes that Blockchain technology can enhance financial independence, while 76 % see encryption as a solution to combat inflation and high transaction costs.
In addition, approximately 79 % is open to receive salaries or payments in encryption, and more than 5 million Argentines already uses Crypto per day.
Coinbase Matías Alberti has appointed head of its operations in Argentina to move in the new market. Alberti’s experience includes leadership roles in Latin American companies such as Buenbit and Clara, indicating experience in the encryption market and in the region.
Plein comment:
“Matías brings a wealth of experience and a deep understanding of the local market. We are confident in its leadership and we are working to provide encryption services to millions of Argentines.”
In addition, Coinbase is committed to financial literacy in Argentina. The company plans to launch local educational initiatives to provide users with the knowledge necessary to make informed decisions on encryption.
Blain added that the educational batch of Coinbase will give Argentines confidence in moving in opportunities and challenges in encryption.
Market focuses on stablecoin
The geography of the encryption report of the year 2024 is ranked 15th in terms of the adoption of encryption and the fourth largest country in Latin America.
Although he was not driving in terms of encryption adoption, Argentina led the amount of encryption money received, exceeding $ 91 billion. The amount is greater than Brazil, the largest economy in Latin America and the country with the best coding accreditation index in the region.
It is worth noting that 61.8 % of this amount is based in Stablecoins, which puts Argentina more than the global average of 44.7 %. The report indicated that this is linked to the excessive inflation that the Argentine people suffer, as Stablecoin’s transactions were accelerated less than $ 10,000 in the country faster than any other type of asset.
In addition to the amount received in Crypto, Argentina also makes basic moves regarding Blockchain technology. In August 2024, ethereum It has become part of the Buenos Aires high school curriculum through partnership with ETH KIPU.
The Argentine capital has also launched an ETHEREUM program from the 2 Blockchain layer, ZksyncTo record 3.6 million people digitally. Population identifiers will be available on their mobile phones.