Crypto exchange Binance has secured regulatory clearance to operate in Argentina.
Binance announced on Tuesday that its mobile and web applications were fully operational for Argentine users.
Binance Earns 20th Global Registration in Argentina as a Virtual Asset Provider
Operating in Argentina means that Argentina’s National Securities Commission (CNV) recognizes Binance as a virtual asset service provider (VASP). Interestingly, this marks Binance’s 20th registration globally.
Binance’s head of Latin America, Guilherme Nazar, expressed the company’s commitment to complying with local regulations and contributing to crypto expansion in Argentina. Nazar revealed that Binance sees Argentina as a strategic crypto market in Latin America.
#Binance marks its 20th global regulatory milestone with registration in Argentina.
This achievement underscores Binance’s commitment to compliance and progressive regulation, aiming to foster the growth of the crypto industry in a safe and sustainable manner worldwide.
Read… pic.twitter.com/hbBNVmBX23
— Binance (@binance) October 1, 2024
Speaking highly of the nation, Nazar said in a statement, “Argentinians are tech savvy, open to testing innovations that help with their concrete needs, and have been showing they are thirsty for tools that allow them to use crypto in their daily lives.”
Crypto Continues to Expand in Latin America and Asia
Binance’s expansion to Argentina comes shortly after securing licenses in Indonesia, Kazakhstan, and India. The crypto exchange appears to have turned its sight to Latin America and the Asian markets. Both regions have seen a notable rise in crypto activities.
#Binance Kazakhstan has become the first digital platform to obtain a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority (AFSA).
Now fully licensed to operate a digital assets trading facility, act as a broker-dealer, and provide… pic.twitter.com/2sKCJyLuee
— Binance (@binance) September 30, 2024
In Latin America in particular, there’s been an increased use of stablecoins, particularly among remote workers. Recent reports state that stablecoins like USDT, and USDC are mostly used by salary earners to save the value of their earnings. Most Latin Americans use stablecoins to access the US dollars, and hedge against inflation.
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