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<h4><strong>OKX has continued its expansion in Latin America and has launched its services in Argentina. </strong></h4>
<p>Argentine users will now be able to trade NFTs, access a self-custody wallet, and use the OKX exchange for trading activities.</p>
<h5><strong>OKX Marks Its Territory in Argentina with Service Expansion</strong></h5>
<p><span style="font-weight: 400;">South American countries such as Brazil and Argentina have opened their doors to cryptocurrencies and view them as a way to combat their failing currencies. OKX has previously expanded its services to Brazil.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">We're thrilled to announce the official launch of our exchange and Web3 Wallet in Argentina! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1e6-1f1f7.png" alt="🇦🇷" class="wp-smiley" style="height: 1em; max-height: 1em;"></p>
 <p>This global expansion is a vital step in unlocking the potential of crypto across Latin America. Get more details here <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/uiWG1Ur2Ta" rel="noopener noreferrer nofollow">https://t.co/uiWG1Ur2Ta</a> <a href="https://t.co/W2GTfT4ynD" rel="noopener noreferrer nofollow">pic.twitter.com/W2GTfT4ynD</a></p>
 <p>— OKX (@okx) <a href="https://twitter.com/okx/status/1755290416927117757?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 7, 2024</a></p>
</blockquote>
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<p><span style="font-weight: 400;">OKX president Hong Fang <a href="https://www.okx.com/es-es/learn/okx-expansion-launch-argentina" target="_blank" rel="noopener noreferrer nofollow">said</a> the exchange’s expansion to A</span><span style="font-weight: 400;">rgentina was in response to the growth of digital assets in the country. Fang stated that “the promise of crypto and blockchain is expanding across Latin America, and Argentina represents a crucial launchpad for our regional growth strategy.”</span></p>
<p><span style="font-weight: 400;">Furthermore, <a href="https://www.altcoinbuzz.io/?s=argentina" target="_blank" rel="noopener noreferrer nofollow">Argentina</a> has spurred its citizens to adopt cryptocurrencies as an alternative means. The nation’s government launched the “Bases for the Reconstruction of the Argentine Economy” legislation in December 2023. This policy allows Argentine citizens to settle their contracts within the nation using Bitcoin and other cryptocurrencies.</span></p>
<h5><strong>The Rise of Crypto Caves</strong></h5>
<p><span style="font-weight: 400;">Despite the go-ahead on Bitcoin, most Argentines seem to prefer stablecoins. Some claim that Bitcoin’s volatility endangers their finances. Recent reports claim that Argentines are relying on underground markets known as “crypto caves” to buy US-dollar pegged stablecoins. This is part of their attempt to get around stringent currency regulations and inflation.&nbsp;</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">I lived in Argentina from 14’-17’ where I had to go to a ‘cave’ each month to illegally sell my pesos to buy USD, just so I could guarantee a flight home each year. Anyone who doesn’t understand why crypto/defi is revolutionary is living under a rock. <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoin</a> <a href="https://twitter.com/hashtag/ElSalvador?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ElSalvador</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/IxwjS8Tv5G" rel="noopener noreferrer nofollow">pic.twitter.com/IxwjS8Tv5G</a></p>
 <p>— Rich Kane (@richkane_) <a href="https://twitter.com/richkane_/status/1402635822407499778?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 9, 2021</a></p>
</blockquote>
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<p><span style="font-weight: 400;">These crypto caves are discreet peer-to-peer exchanges that run covertly. Guillermo Escudero, the strategic alliances manager at CryptoMarket, said in an interview, </span><span style="font-weight: 400;">“It (crypto caves) is not a normal commercial place with public attention. They are hidden places where one goes with prior confirmation to meet and can change their local fiat money against cryptocurrencies, mostly USDT.”</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Here in Argentina usually the preferred method of payment is USDT over Tron (if someone sends it), mainly because of lower tx costs. <a href="https://t.co/dnSxB2fBJ0" rel="noopener noreferrer nofollow">https://t.co/dnSxB2fBJ0</a></p>
 <p>— BowTiedMara (@BowTiedMara) <a href="https://twitter.com/BowTiedMara/status/1680184021735682049?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 15, 2023</a></p>
</blockquote>
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<p><span style="font-weight: 400;">In addition, Escudero claimed that by using crypto caves, residents can secure a superior rate to the official exchange rate. Most Argentines believe saving <a href="https://www.altcoinbuzz.io/?s=usdt" target="_blank" rel="noopener noreferrer nofollow">USDT</a> helps them save more over time.</span></p>
<p><span style="font-weight: 400;">Furthermore, Escudero noted that officials have probed and even invaded a few crypto caves. However, these crypto caves remain popular amongst the locals as they are one of the few locations where they can exchange their pesos.</span></p>
<p><iframe title="The 4 Most Promising Bitcoin Crypto L2s (Besides Stacks STX)" width="696" height="392" src="https://www.youtube.com/embed/SLaTWvOkM4g?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<h5><strong>Disclaimer</strong><br> The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</h5>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/okx-expands-services-to-argentina/" rel="noopener noreferrer nofollow">OKX Expands Services to Argentina</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

OKX Expands Services to Argentina

Altcoin Buzz

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