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Coinpaprika 2025-01-29 08:19:32

Coinbase Gets License to Operate in Argentina, Challenges Binance

Coinbase has secured a Virtual Asset Services Provider license in Argentina, allowing it to legally operate in the country’s growing crypto market. This move positions the exchange to compete with Binance , which obtained the same license in October. Rather than focusing on expansion across Latin America, Coinbase appears to be prioritizing community engagement and strengthening local business ties. Coinbase is committed to regulatory compliance worldwide. It recently delisted Tether in the EU and has signaled it would do the same in the US if necessary. The company is also making progress in its legal battle with the SEC and remains optimistic about the outcome. “Economic freedom is key to prosperity, and we are proud to bring secure, transparent, and reliable crypto services to Argentina. For many in the country, crypto is not just an investment—it’s essential for regaining control over their financial futures,” said Fabio Plein, Coinbase’s Director for the Americas. Argentina ranks among the top countries in South America for crypto adoption, making it a prime market for Coinbase. President Javier Milei has expressed support for Bitcoin payments , aligning with Coinbase CEO Brian Armstrong’s vision. The exchange cited strong public interest and widespread daily crypto use as driving factors behind its decision to enter the country. However, Binance’s earlier entry gives it an advantage. To challenge its competitor, Coinbase has brought in local entrepreneur Matías Alberti to lead its Argentina expansion, leveraging his business network. “Argentina is finally opening up, and we’re seeing more companies willing to establish themselves here after years of strict regulations,” wrote Rojan Ron, a well-known crypto influencer in the country. Coinbase plans to attract local users through security, consumer protection, and crypto education initiatives. These efforts aim to give Argentinians the knowledge and confidence to explore financial opportunities in the crypto space. For now, the company seems focused solely on Argentina , with no clear signs of regional expansion. With a strong local crypto community, Coinbase is determined to establish itself in the country and compete in an increasingly active market.

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