Coinbase Expands Its Reach by Gaining Regulatory Approval in Argentina – BitRss

Cryptocurrency exchange Coinbase has announced that it has received the necessary regulatory approval to operate in Argentina. In a blog post shared on Tuesday, the company stated that it obtained the Virtual Asset Service Provider (VASP) registration from the Argentine National Securities Commission (CNV). This expansion is viewed as part of the exchange’s mission to enhance economic freedom on a global scale.

Expansion Strategy in Argentina

Coinbase highlighted that the entry into the Argentine market comes at a time when the daily cryptocurrency usage in the country is approximately 5 million. The company aims to serve this large user base. Demand for cryptocurrency solutions has surged during a period when Argentina is affected by economic fluctuations.

Coinbase’s operations in Argentina will be led by Matthews Alberti, who is recognized as an experienced executive previously affiliated with fintech firms like Buenbit and Clara. Under his leadership, Coinbase’s presence in the Argentine market is expected to strengthen.

Stock Performance

Coinbase’s stock exhibited a stable performance at the beginning of the Nasdaq trading day…