Coinbase Receives Approval to Launch in Argentina
Coinbase, the leading US cryptocurrency exchange, has expanded its global footprint by receiving regulatory approval to launch services in Argentina. The move is in response to the growing demand for digital assets amid the South American country’s economic uncertainty.
Approval to Operate in Argentina
On January 28, 2025, Coinbase was officially granted a Virtual Asset Service Provider (VASP) license by the Argentine National Securities Commission (CNV). The license allows Coinbase to operate within Argentina’s legal framework for virtual assets, while also offering services in Spanish, integrating local payment methods, and providing customer support.
The move is in line with Coinbase’s mission to expand economic freedom globally, with a focus on security, regulatory compliance, and user education. The company plans to roll out its products gradually over the coming months.
To spearhead this expansion, Coinbase has appointed Matías Alberti, who previously served as Argentina Country Manager at crypto exchange Buenbit, as head of local operations.
Cryptocurrency Adoption in Argentina
Argentina is experiencing economic uncertainty, with high inflation and currency volatility leading people to seek alternative financial instruments such as cryptocurrencies. Currently, around 5 million Argentinians, or nearly 11% of the population of 45.7 million, use cryptocurrencies on a daily basis.
According to the survey, 87% of people believe that blockchain technology can increase financial independence, 76% see cryptocurrencies as a hedge against inflation and high transaction costs, and 79% are willing to receive their salary in digital assets.
Responding to this need, Coinbase aims to educate users through local initiatives, helping them better understand and make the most of the benefits of cryptocurrencies. Fabio Plein, Head of Americas at Coinbase, emphasized: “Economic freedom is the foundation of prosperity, and we are proud to bring secure, transparent, and trustworthy cryptocurrency services to Argentina. For many Argentines, cryptocurrency is not just an investment, but a necessity to regain control of their financial future.
Competitive Challenges
The cryptocurrency exchange market in Argentina is highly competitive, with local platforms such as Buenbit and Ripio, alongside global players such as Binance and Kraken. Coinbase’s entry into this market is aimed at meeting the growing demand for alternative financial options, especially in the current economic climate.
By capitalizing on this demand, Coinbase is positioning itself to tap into one of Latin America’s most vibrant digital asset markets.