On January 29, 2025, Coinbase announced its approval to operate in Argentina after registering as a Virtual Asset Service Provider with the National Securities Commission. This move is significant as 87% of Argentinians believe blockchain can enhance financial independence, while 76% view crypto as a solution to inflation and high transaction costs.
Approximately 79% of the population is open to receiving salaries in cryptocurrency, and over 5 million Argentinians use crypto daily. Coinbase has appointed Matías Alberti to lead its operations in Argentina, emphasizing the company's commitment to financial literacy through local educational initiatives.
According to Chainalysis's 2024 Geography of Crypto Report, Argentina ranks 15th globally in crypto adoption, having received over $91 billion in crypto, surpassing Brazil. Notably, 61.8% of this amount is in stablecoins, significantly above the global average of 44.7%, reflecting the country's hyperinflation issues.
Additionally, Argentina is advancing blockchain education, with Ethereum included in the high school curriculum in Buenos Aires and a program launched to digitally register 3.6 million residents using Ethereum's layer-2 blockchain, ZKsync.