Binance explained why Argentina is a key market and revealed the pillars of its new strategy
Guilherme Nazar, regional vice president of the company, highlighted the rate of cryptocurrency adoption in the country and highlighted the potential of the local market as a hub of innovation.
Argentina is positioned as one of the most promising markets for Binance globally. It is among the 20 most relevant countries for the company, with a cryptocurrency adoption rate that doubles the world average, according to Guilherme Nazar, regional vice president of the company for Latin America.
"There is no official data, but it seems to us that it is much higher than the global average. The global average is 7%, 6.8%. The data we receive is that Argentina is between 15% and 20% of crypto adoption rate in the population," said Nazar, who assumed regional leadership in May 2024 after two years in charge of operations in Brazil.
The executive noted that the cryptoasset ecosystem is going through a significant moment of transformation. "The industry is moving to a different level of maturity," he said, explaining that cryptocurrency adoption follows an inverse pattern to that of conventional financial products: "It has started at a retail level. Most of the 600 million or so global users are individuals, and now it is moving up, reaching large institutional firms."
And this is how the market looks today.