The company secured a Virtual Asset Service Provider (VASP) registration from Argentina’s National Securities Commission (CNV). This approval allows it to operate legally within the country’s framework.
This move strengthens the commitment from Coinbase to compliance and user protection.
Crypto Adoption Soars as Coinbase Enters Argentina
Argentina has become a hotspot for cryptocurrency adoption. With 5 million Argentinians using crypto daily, digital assets help tackle inflation and financial instability. The numbers speak for themselves—87% of Argentinians believe crypto can boost their financial independence. Additionally, 79% are open to receiving salaries in digital assets.
For many Argentinians, traditional banking means high fees, slow transactions, and limited global access. Crypto offers an alternative, and 76% of adults see it as a solution to these frustrations. With Coinbase in the picture, users can now access a safe and regulated platform. This makes crypto more accessible than ever.
We have secured a Virtual Asset Service Provider (VASP) registration from Argentina’s National Securities Commission (CNV).
This will allow us to operate within Argentina’s legal framework for virtual assets, reinforcing our commitment to compliance and user protection.
— Coinbase 🛡️ (@coinbase) January 28, 2025
Coinbase’s expansion into Argentina is led by Matías Alberti. He will oversee local operations and ensure smooth integration into the country’s financial ecosystem. Coinbase aims to build trust and long-term success by working with regulators and industry leaders.
Coinbase reported a significant surge in Solana usage from January 17th to January 20th, causing a backlog of over 113,000 delayed transactions. The peak load, which was 30 times higher than their normal rate, led to delays in processing both sends and receives, causing Coinbase’s systems to fall behind the Solana network by approximately 50,000 blocks. To address the issue, Coinbase deployed fixes on January 20th, clearing delayed sends to give users quicker access to their assets.
Delays can be frustrating, we want to share a retro on the delayed Solana sends & receives some customers experienced recently.
This retro details what happened, why, and what improvements we are making to best serve our customers, especially during periods of high demand. ⬇️
— Coinbase Support (@CoinbaseSupport) January 24, 2025
By January 21st, the company reported that system latencies had returned to normal, marking the incident as resolved. The root cause was identified as Coinbase’s shared services, which struggled to handle the spike in Solana’s usage. To prevent future occurrences, Coinbase is working on optimizing its infrastructure, enhancing transaction handling, and improving liquidity management to keep up with Solana’s growth.
Disclaimer
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