Cryptocurrency exchange OKX has expanded into Argentina, launching crypto trading services as part of its growth strategy in Latin America. This follows OKX’s recent launch in Brazil as it targets emerging crypto markets in the region.
In a statement, OKX announced that Argentine users can now access its exchange platform, self-custody wallet, and NFT">NFT trading. Argentina ranks 15th globally for crypto adoption and has seen surging interest in digital assets.
OKX president Hong Fang emphasized Argentina’s importance, stating: “We are delighted to officially launch the latest expansion of our world-class exchange and Web3 wallet in one of the most vibrant cryptocurrency markets in Latin America.”
“The promise of crypto and blockchain is expanding across Latin America, and Argentina represents a crucial launchpad for our regional growth strategy,” Fang added.
The launch comes after rival exchange Binance began services in Argentina last year due to high local demand. Crypto adoption is accelerating as the government passed a decree in December allowing Argentines to use Bitcoin and other cryptocurrencies for contract settlements.
However, Argentina’s central bank banned fintechs from offering crypto transactions in May 2022 to reduce digital asset risks. Still, many locals are turning to crypto amid high inflation.
Latin America has shown a strong preference for centralized exchanges like OKX versus decentralized platforms. By launching in fast-growing markets like Argentina and Brazil early, OKX aims to cement itself as the go-to exchange for trading, NFTs, and more across the region.
