Bybit is now entering in Argentina

Bybit is now entering in Argentina

A Singapore-based cryptocurrency exchange called Bybit has announced it would open up business in Argentina. Given the prominence of the bitcoin industry in Argentina, the exchange intends to provide residents with another platform for conducting transactions. A specific team will support Argentinian activities on the exchange as well.

For the purpose of better achieving this objective, the business will assign a team to handle essential requirements and support its forthcoming Argentinian clients, enabling them to do business, buy, and sell cryptocurrencies on Bybit's platform. 

The exchange stated about this expansion: Bybit has chosen this choice because of the importance of the Argentinian market in the Latin American region as well as the level of penetration and the quick increase in the acceptance of cryptocurrencies in Argentina.

Argentinians have been edging ever-closer to cryptocurrency in recent years. This trend began after the government set restrictions on the amount of dollars its people could trade, creating a foreign exchange control similar to the one the Venezuelan government had set up before. The curiosity in this new, alternative financial system has also been motivated by inflation data.

Gonzalo Lema, the director of Bybit operations for Argentina, said: Although macroeconomic factors have contributed to a rise in cryptocurrency acceptance in Argentina, as the customer base expands, interest in other applications of digital assets, such as the capacity to pay for products and services or even receive remittances, will develop.

Other related news : Kucoin and Bybit are charged by Canadian regulator OSC