OkCoin launches a fiat-crypto exchange aimed at Argentina with the Peso pair, but with the prospect of adding other South American currencies.
Starting from today, in fact, Argentine citizens are able to deposit their Peso and exchange them for cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Cardano, Stellar, Zcash and 0x, but it is expected that other pairs will be added soon.
The integration of other Latin American currencies into the platform will take place in the coming months.
The exchange will also open a customer support office in Buenos Aires with a specific team, so recruitment is also expected.
Tim Byun, CEO of the exchange, said: “OKCoin is committed to opening up new markets for digital currency consumers throughout the world, and we are very excited to bring our safe, secure and licensed trading platform to consumers in Argentina. This is just the beginning of our Latin American expansion, as we’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence“.
OKCoin is already officially and legally trading the US dollar for the North American market and this move is very important for the opportunity to enter a market that has good premises.
Recently Venezuela surpassed the US for the trading volume of bitcoin on Localbitcoins.
A country with high inflation sees cryptocurrencies, however variable, as a safe haven and recently the Argentine Peso has experienced high inflation phenomena (ARS/USD exchange rate from XE.com):
The announcement coincides with the participation of OKCoin in the C20 conference, the largest in South America, in which one of the main themes will be precisely the purchase of virtual currencies.