Bybit, an Argentinian-based cryptocurrency exchange has said it is expanding to Argentina. Given the growing popularity of the cryptocurrency market in Argentina, the exchange hopes to provide another platform for Argentinian citizens to transact. An Argentinian team will support the operations of the exchange.
Argentina bybit Lands
Companies around the world have taken note of Argentina’s growing cryptocurrency industry. Bybit is a Singapore-based crypto exchange that ranks among the top ten in terms of volume. It has now announced its plans to expand its trading activities and support Argentinian clients.
To better achieve this goal, the company will dedicate a team to attend to applicable requirements and support its upcoming Argentinian customers, allowing them to transact, purchase, and sell cryptocurrencies on Bybit’s platform. Additionally, Bybit’s platform will be accessible in Spanish (the native language of Argentina).
The exchange announced:
Bybit took into consideration the amount of cryptocurrency adoption in Argentina and its rapid growth.
Bybit feels it’s the right time for the company to grow its operations into the country. This is because there are opportunities to onboard new users to the cryptocurrency movement.
Argentinian Crypto Appeal
Argentinians are increasingly closer to cryptocurrency in recent years. This phenomenon started after the government set limits on the amount of dollars that citizens can exchange. It also established a foreign currency exchange control similar to one implemented by Venezuela’s government. The interest in this alternative financial system was also affected by the rising cost of inflation.
This new interest, resulting from the current market conditions and national and international markets, is expected to drive demand for crypto by Argentinian users. Gonzalo Lema is the director for Bybit Argentina operations.
Although the macroeconomic environment has been a major factor in the increase in cryptocurrency adoption in Argentina, the interest in potential other uses for these assets, including the ability to receive remittances and even pay for goods or services, will grow.
All of the company’s available investment tools and services in Argentina will be offered to Argentinians who register before July 11.
How do you feel about Bybit’s new plans for Argentinian markets expansion? Leave a comment below.
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