Crypto.com Secures Argentina VASP Registration, Expands Services in LATAM
Crypto.com has secured VASP registration in Argentina, facilitating the delivery of regulated cryptocurrency services to the LATAM region. The launch of localized products and collaboration with local authorities will enhance customer experience. Growth indicators from research suggest a strong interest in cryptocurrency among Argentine consumers, supporting Crypto.com’s strategic expansion in the region.
Crypto.com has recently obtained its Virtual Asset Service Provider (VASP) registration in Argentina, facilitating the expansion of its cryptocurrency services across the Latin American (LATAM) region. Approved by the National Securities Commission of Argentina, this registration will allow Crypto.com to provide regulated cryptocurrency services starting from March 17, 2025. This expansion highlights Argentina’s status as a pivotal area for cryptocurrency adoption and financial innovation in LATAM.
The VASP registration empowers Crypto.com to offer localized cryptocurrency products via the Crypto.com App and introduce Argentine Peso (ARS) fiat services, particularly through the launch of its upcoming ARS fiat wallet. The company is also collaborating with the CNV to secure full operational licensing in accordance with the forthcoming March 2025 crypto regulations.
Alain Yacine, President of LATAM at Crypto.com, commented on the significance of their growth strategy, stating, “The LATAM market, and Argentina specifically, is a rapidly growing market for crypto adoption and enthusiasts and central to the Crypto.com growth strategy. We are proud to achieve this latest regulatory milestone, and excited to provide Argentine consumers and traders a most comprehensive and secure crypto trading experience.”
In terms of prior milestones, Crypto.com introduced its Visa Card to LATAM customers in November 2024 and forged an investment banking partnership with BTG Pactual in February 2024. Research indicates that Argentine consumers are increasingly interested in cryptocurrency, with 46% expressing a desire to utilize debit cards for cryptocurrency spending and 57% intending to invest in crypto before the end of the year.
Additionally, Crypto.com is enhancing its regulatory framework in several key markets by obtaining vital licenses, including MiCA in the EU, as well as money transmitting and derivatives clearing licenses in the U.S., Major Payment Institution status in Singapore, Electronic Money Institution approval in the UK, and VASP registration in Dubai.
Founded in 2016, Crypto.com now boasts over 100 million users globally while maintaining stringent security measures across its platform. Its mission is to achieve “Cryptocurrency in Every Wallet™” to further encourage the widespread adoption of cryptocurrency.
In conclusion, Crypto.com’s recent VASP registration in Argentina marks a significant step in the company’s strategy to enhance its presence in the LATAM market. With plans to introduce localized products and enhance user experience, Crypto.com aims to capitalize on the growing interest in cryptocurrency adoption among Argentine consumers. The organization maintains a commitment to regulatory compliance and robust security as it expands its services globally.
Original Source: financefeeds.com
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