Coinbase expands its operations to five countries in Latin America
The US exchange house Coinbase announced on Wednesday the expansion of its services to five countries in Latin America: Argentina, Chile, Peru, Mexico, and Colombia. According to official information, residents of these five Latin American countries will be able to store, exchange, send and receive cryptocurrencies through Coinbase Pro and Coinbase.com.
The inclusion of Colombia, Chile, Argentina, Peru, and Mexico was accompanied by six other nations that will be able to use all of Coinbase's services. These include the Special Administrative Region of Hong Kong and India, two countries that are particularly receptive to cryptocurrencies.
The expansive strategy of Coinbase, which now allows them to operate in 53 countries, coincides with what they call "the utility phase" in the cryptocurrency trade. According to its own statistics, for February of this year, more than half of the exchanges made on its platforms were cryptocurrency to cryptocurrency. This trend has remained at similar levels since August 2018, which is why they consider that the "investment phase" has already been passed.
Coinbase is one of the most recognized exchange houses within the cryptocurrency ecosystem, so the incursion in the South American continent generated reactions among users of cryptocurrencies. In fact, some of them asked the crypto company when they would provide their services for other countries such as Brazil and Paraguay.