The Spanish firm BitBase plans to install its first cryptocurrency ATMs in Argentina in 2025. As crypto adoption continues to accelerate in the Latin American region, BitBase is making a significant move to establish its presence.
Investment and Expansion Plans
According to the Argentinian media outlet Mercado, BitBase has allocated approximately $524,000 to fund its initial expansion into Argentina. This investment will cover the purchase of new crypto ATMs to be installed across various parts of the country. Additionally, the funds will be used to set up physical stores and ensure compliance with local regulations.
BitBase confirmed it has already hired 10 staff members to support its operations in Argentina. The company has also partnered with key players, including the influential NGO Bitcoin Argentina. These partnerships aim to educate users and create a safe space for conducting cryptocurrency transactions.
Educating Users and Preventing Fraud
The company stated that its efforts would help Argentinians avoid crypto-related scams and fraud. BitBase has established its base of operations in Recoleta, a central district in Buenos Aires.
BitBase’s Background and Goals
Founded in 2017, BitBase currently operates 135 crypto ATMs and 24 physical stores in Spain. The firm employs 50 staff members and serves over 35,000 active users.
Nadia Karabin, Regional Director and Partner at BitBase Argentina, revealed that the company plans to add the option to buy and sell cryptocurrencies electronically using bank cards in the coming months.
Argentina’s Growing Crypto Landscape
BitBase’s move comes amid increasing crypto adoption and regulatory developments in Argentina. Recently, Argentina’s National Securities Commission (CNV) signed a strategic cooperation deal with El Salvador’s Digital Assets Regulator. The agreement aims to promote cryptocurrency development and adoption while strengthening Argentina’s regulatory framework.
Regulatory Outlook
Argentina’s CNV has expressed readiness to shift its stance on Bitcoin (BTC). The regulator is also open to collaborating with domestic crypto businesses to integrate cryptocurrencies safely into the nation’s financial system.
Rising Popularity of Crypto in Argentina
Despite a recent decline in inflation, cryptocurrency continues to gain traction in Argentina. As the demand for digital assets grows, BitBase’s expansion could play a key role in advancing crypto accessibility and adoption in the country
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