DUBAI, UAE, Aug. 16, 2024 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, today announced a significant milestone in its expansion strategy in Latin America: its registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina. This achievement positions Bybit as a pioneer in providing comprehensive digital asset services to the Argentinian market.
Argentina's recent establishment of the VASP registry signifies a progressive step toward regulating the cryptocurrency industry. Bybit's inclusion in this registry underscores its commitment to adhering to local regulations and providing a secure and compliant platform for its users.
"We are excited to become a registered VASP and card issuer in Argentina, and take compliance seriously" said Ben Zhou, Co-founder and CEO of Bybit. "This achievement marks a significant step forward in our mission to provide accessible and secure digital asset services to users worldwide and our commitment against financial crime. Bybit is committed to supporting Argentina's economic growth and empowering its citizens through the payment capabilities and potential of blockchain technology."
As a registered VASP and card issuer, Bybit is empowered to offer a wide range of crypto-related services to Argentinian users. This development comes at a pivotal time as Argentina addresses economic challenges. The recent approval of a company using cryptocurrency as registered capital by the Argentine General Inspectorate of Justice (IGJ) signifies a groundbreaking acceptance of digital assets within the country's legal framework. This reflects Argentina's innovative approach to cryptocurrency policy and its growing market adoption.
By providing a regulated and secure platform, Bybit is poised to contribute to the country's financial landscape by offering accessible, secure, and efficient digital asset solutions. Bybit prioritizes the security of its users' assets, employing industry-leading measures to safeguard user funds and data. As a registered VASP, Bybit adheres to Argentina's stringent anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.
Leveraging its global infrastructure and liquidity, Bybit offers Argentinian users access to a diverse range of digital assets and cryptocurrency-backed payment cards, meeting the evolving needs of its users.
Bybit / TheCryptoArk
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.
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