Coinbase has obtained a Virtual Asset Services Provider license in Argentina. This allows the exchange to operate legally in the country’s growing crypto market. With this license, Coinbase can compete with Binance, which received the same license in October.
Instead of expanding throughout Latin America, Coinbase is focusing on community engagement and building local business relationships. The company is dedicated to regulatory compliance globally. Recently, it delisted Tether in the EU and may do the same in the US if needed. Coinbase is also making progress in its legal case with the SEC and is hopeful about the outcome.
Fabio Plein, Coinbase’s Director for the Americas, emphasized the importance of economic freedom. He stated that many people in Argentina see crypto as essential for controlling their financial futures.
Argentina is one of the top countries in South America for crypto adoption, making it an attractive market for Coinbase. President Javier Milei supports Bitcoin payments, which aligns with Coinbase CEO Brian Armstrong’s vision. The company noted strong public interest and daily crypto use as reasons for entering the market.
However, Binance’s earlier entry gives it a competitive edge. To compete, Coinbase has hired local entrepreneur Matías Alberti to lead its expansion in Argentina. He will use his business network to help Coinbase grow.
Rojan Ron, a crypto influencer in Argentina, noted that the country is becoming more open to new companies after years of strict regulations. Coinbase aims to attract local users by focusing on security, consumer protection, and crypto education. These initiatives will help Argentinians gain the knowledge and confidence to explore financial opportunities in crypto.
Currently, Coinbase is concentrating solely on Argentina, with no plans for regional expansion. With a strong local crypto community, Coinbase is determined to establish itself in the country and compete in a vibrant market.
