WhiteBIT’s Strategic Expansion into the Latin American Crypto Market
European cryptocurrency exchange WhiteBIT is making significant strides in Latin America, having registered with Argentine authorities and preparing to launch operations in Brazil. This expansion marks a crucial step in WhiteBIT’s global strategy to broaden its footprint.
WhiteBIT Sets Sights on Argentina and Brazil
WhiteBIT is gearing up to penetrate the Argentine and Brazilian markets, leveraging recent regulatory approvals in these major South American nations. The exchange plans to introduce a comprehensive suite of services, targeting both business-to-business (B2B) and business-to-consumer (B2C) sectors. This move is part of a broader effort to strengthen its presence across the Latin American region.
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WhiteBIT’s latest expansion follows its successful regulatory ventures in various countries, including Australia, Croatia, and Italy. Additionally, it achieved a significant milestone with its launch as a licensed operator in Kazakhstan in early November. The exchange aims to integrate local fiat services and support local currencies, enhancing the ease and accessibility of its platform for users in Argentina and Brazil.
In Argentina, WhiteBIT has secured its status as a Virtual Asset Service Provider (VASP), facilitating secure and seamless access to cryptocurrency exchange services. This initiative aims to demystify digital assets, making them more accessible to everyday users. Concurrently, WhiteBIT has established an operational base in Brazil and is preparing for its official launch under the forthcoming VASP regulatory framework, anticipated by the end of the year.
This dual-market entry is a part of WhiteBIT’s larger strategy to drive the adoption of regulated digital asset services throughout South America. According to Volodymyr Nosov, Founder and President of W Group, which encompasses WhiteBIT, Latin America is rapidly emerging as a hub for crypto adoption. He emphasized that securing regulatory approval in Argentina and preparing for Brazil’s launch are pivotal steps in their mission to promote global cryptocurrency adoption.
Rising Crypto Adoption in Latin America
WhiteBIT has highlighted a significant uptick in cryptocurrency transactions within Latin America over the past year. As reported in the 2025 Global Crypto Adoption Index by Chainalysis, both Brazil and Argentina are leading the charge in embracing digital assets.
The report from September positions Brazil fifth globally in terms of transaction volume and enterprise-level blockchain integration, trailing only India, the United States, Pakistan, and Vietnam. Argentina, ranked 14th, continues to leverage stablecoins as a safeguard against inflation. Notably, the region experienced a 63% surge in cryptocurrency transaction volume over the past year, driven by both individual and institutional involvement.
According to an October Chainalysis report, Latin America saw nearly $1.5 trillion in crypto transactions from July 2022 to June 2025, with a record-breaking $87.7 billion in December 2024. Although transaction volumes have moderated in the first half of 2025, the region maintains a higher baseline compared to previous years, indicating sustained momentum in crypto adoption.
Brazil led the region, receiving $318.8 billion in digital asset value, accounting for roughly one-third of Latin America’s total crypto activity. Argentina ranked second with $93.9 billion, followed by Mexico, Venezuela, and Colombia. The report also noted that centralized exchanges remain the primary entry point for cryptocurrency enthusiasts across Latin America, with 64% of activity occurring on these platforms, underscoring their accessibility and trust among users.
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