Coinbase Receives Approval to Expand Services Into Argentina

Crypto exchange Coinbase (COIN) said it received regulatory approval to offer services to users in Argentina.

The company received a Virtual Asset Service Provider (VASP) registration from Argentina’s National Securities Commission (CNV), it said in a blog post on Tuesday. The expansion is part of the exchange’s mission to increase economic freedom globally.

Roughly 5 million Argentinians use crypto on a daily basis, Coinbase said. Operations will be led by Matìas Alberti, who previously worked in the fintech field at Buenbit and Clara.

Coinbase shares were little changed at the start of Nasdaq trading. They have added 8% this year to $277.84 at press time, roughly tracking the price of bitcoin (BTC).