Coinbase, one of the world’s largest cryptocurrency exchanges, has taken a major step in its global expansion. The company has obtained a Virtual Asset Service Provider (VASP) license in Argentina, allowing it to operate legally in the country. The move comes at a time when the Argentine cryptocurrency market is constantly growing, with an increasing number of people interested in investing in and using cryptocurrencies on a daily basis.
“Coinbase is expanding its global reach to Argentina. This move is part of Coinbase’s larger mission to increase economic freedom globally while prioritizing security, regulatory compliance, and user education. Coinbase has secured a Virtual Asset Service Provider (VASP) registration from Argentina’s National Securities Commission (CNV), allowing it to operate within the country’s legal framework for virtual assets as it gradually launches its products over the coming months.” announced.
Coinbase’s arrival in Argentina represents a direct challenge to Binance, another major exchange that has already been licensed to operate in the country since October. With Coinbase and Binance competing in the Argentine market, the expectation is that the country will become a hub of innovation and growth in the cryptocurrency sector in Latin America. Coinbase, in turn, appears to be adopting a different strategy than Binance. Instead of focusing on aggressive expansion throughout Latin America, the company is prioritizing engagement with the local community and strengthening business ties in Argentina. This approach could be a differentiator for Coinbase, which seeks to establish itself in the Argentine market in a sustainable and lasting way.
To further develop these objectives, Coinbase announced that it has selected Matías Alberti to lead its operations in Argentina. “Matías, who has extensive experience in fintech with companies such as Buenbit and Clara, will lead the efforts to expand Coinbase’s presence in one of the most dynamic cryptocurrency markets in the world. His expertise in operations, strategy and market expansion will be crucial to Coinbase’s success in Argentina.”
Argentina is one of the countries in South America with the highest adoption of cryptocurrencies, which makes it a strategic market for Coinbase. President Javier Milei has already endorsed his support for Bitcoin payments, which aligns with the vision of Coinbase CEO Brian Armstrong. In addition, the company also highlighted the strong public interest and widespread use of cryptocurrencies in the country as decisive reasons for its entry into the Argentine market.