Bybit Takes Charge In Argentina With Complete Digital Assets

Bybit has shared that it is now operating in Latin America. The company has been authorized as a card operator and a Virtual Asset Service Provider (VASP) in Argentina. This means Bybit is among the first to give all kinds of digital asset offerings in Argentina.

Argentina’s recent creation of the VASP registry is a move toward controlling the cryptocurrency industry. Bybit’s registration shows its plan to obey local rules and provide a safe platform for users.

This Authorization Allows Bybit To Offer Various Crypto Services In Argentina

As a card issuer and a digital asset service provider, Bybit can now offer different crypto services to people in Argentina. This change happens as Argentina struggles with economic problems and has recently allowed a company to use digital currency as official money.

This green light by the Argentine General Inspectorate of Justice indicates that Argentina is starting to accept digital assets more and more.

The Co-Founder and Chief Executive Officer of Bybit, Ben Zhou said this licence is a big deal for the company. He added that it will help the firm reach its goal to offer safe and accessible digital asset offerings to users around the world. Zhou also stated that Bybit is committed to fighting financial crime and this license will help the firm protect the users. He noted that the company aims to help the growth of the Argentina economy and support its people by using blockchain technology and payment features.

Bybit Seeks To Enhance Argentina’s Financial System

The Argentine government has set up a registry for Virtual Asset Service Providers, making it mandatory for crypto exchanges and similar companies to register. This decision comes after actions by President Javier Milei, who once backed cryptocurrencies but is now facing criticism.

According to a report, the new rules, which update counter-terrorism financing and anti-money laundering laws, were put into effect on March 14 after getting the Argentine Senate’s approval.

Bybit enters Argentina to boost the financial system with easy and secure digital asset services. The company ensures user assets are safe by protecting funds and data. Bybit follows Argentina’s laws on money laundering and terrorism financing.

With its global setup and resources, Bybit provides Argentinian users with access to different cryptocurrency payment cards, meeting their needs.

Bybit is a cryptocurrency exchange that provides a top-notch platform with great customer support, a very fast matching engine, and multilingual community help for crypto traders of all experience levels. Founded in March 2018, Bybit now serves over 10 million institutions and users. It offers access to more than 100 assets and contracts in Options, Futures, and Spot, as well as an NFT Marketplace, earning products, launchpad projects, and more.