The service will be available to 4.5 million users in the South American country in the coming weeks.Read MoreCoinDesk
At first, the new service will be available to a few thousand users, Andres Rodriguez Ledermann, vice president of Wealth Management at Uala, told CoinDesk, but it will be rolled out to all of the company’s 4.5 million Argentine customers in coming weeks.
The platform only allows for purchases and sales of the cryptos – withdrawals are not available. The minimum transaction size is 250 pesos ($0.83).
Rodriguez Ledermann did not rule out the company offering crypto trading in Mexico and Colombia, where it also operates, but added that there are regulatory matters that need to be studied.
Uala is the first financial player to launch crypto trading in Argentina since the local central bank in May barred two banks from allowing its customers access to cryptocurrencies.
In order to comply with current regulations in Argentina, said Rodriguez Ledermann, Ual created a special company to provide its crypto service – Uanex, which is based in England and has the Latin American crypto company Bitso as its crypto liquidity provider.
In August, Ual raised a $350 million Series D funding round co-led by SoftBank and Tencent’ affiliates. The investment gave the company a post-money valuation of $2.45 billion.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Larry Dean Harmon of Ohio was officially sentenced Friday for running the darknet crypto mixer…
Crypto analyst CryptoCon recently alluded to a Bitcoin ‘Golden Multiplier Ratio,’ which he suggested paints…
Bitcoin recorded another remarkable price performance in the past week, gaining by 19.16% according to…
Bitcoin is on the move again, surging toward its previous high of $93,257 with renewed…
The Bitcoin price continued its red-hot form over the past week, printing successive all-time highs…
According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross…