Singapore-based Bybit Exchange Crypto Expands to Argentina

Crypto industry in Argentina

June 25, 2022

Reading Time: 2 minutes

Bybit, a crypto exchange based in Singapore, has taken a stride ahead and announced the extension of its services to Argentina.

Argentinian citizens will have a great chance to trade their assets on the platform as they thrive with the popularity of the crypto industry in the country. The exchange will have a backup team in charge of the Argentinian crypto operations.

The team will avail the platform’s services in Spanish, the country’s primary language, and attend to their clients’ applicable needs like transacting, buying, and selling cryptocurrencies.

Bybit’s expansion to Argentina and the potential to adapt and grow the crypto industry in Argentina drew the exchange to make contact with the Latin American area.

The exchange has taken this as the best time to take its operations overboard to new users in the crypto industry.

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Argentinians embrace crypto

Argentinian citizens have been recently getting into the crypto industry after the government limited the number of dollars that the citizens could exchange. The foreign exchange control in Argentina was similar to the one in Venezuela. The high inflation rate has also been a critical factor in the Argentinians opting for the digital money system.

Bybit is determined to empower its users in Argentina with the new implementations it has put in place. The national and international market conditions and the new users’ interest will allow Bybit to thrive in Argentina.

Gonzalo Lema, Bybit’s operation director in Argentina, said that the customers’ interest in using digital assets like paying for goods and services with them would increase in Argentina as the significant economic conditions become contributing factors to the adoption of crypto assets.

The exchange will avail its services and investment instruments to Argentina together with a 22% annual percentage yield (APY) on Dai deposits for those who will register before July.

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