OKCoin Allows Deposits In Argentine Pesos
OKCoin, one of the largest crypto exchanges, is expanding to Latin America launching an exchange platform headquartered in Buenos Aires.
Traders in Argentina are now allowed to deposit Argentine pesos in exchange for all major cryptocurrencies. Other Latin American currencies will be added later. OKCoin USA CEO Tim Byun explained: “There is a huge opportunity within Latin America and Argentina, in part because traders in the region are extremely savvy and in part because the Argentine peso has experienced a lot of volatility. As the value of Argentina’s fiat currency remains uncertain, consumers there are looking for other options to invest in currencies that are not backed by any central bank or hard asset.”
The country is also known as one of the top destinations for software and blockchain development in the region. The University of Buenos Aires offers blockchain technology courses in partnership with RSK Labs. Moreover, the government recognizes cryptocurrency as property and not as currency, so the exchange of coins is currently legal.