Kraken Strengthens Latin American Presence with ARS and MXN Support

Kraken, a leading cryptocurrency exchange, has expanded its services in Latin America by introducing local currency funding options for Argentine pesos (ARS) and Mexican pesos (MXN). This strategic move aims to simplify crypto transactions for users in these regions by enabling domestic deposits through local payment rails, thereby avoiding expensive international transfers. The initiative is particularly significant in Argentina, where soaring inflation rates have heightened the demand for alternative financial solutions. Kraken's registration as a Virtual Asset Service Provider (VASP) with Argentina's CNV regulator further solidifies its commitment to compliant and accessible crypto services in the region.

Kraken Expands Local Currency Support in Argentina and Mexico to Boost Crypto Adoption

Kraken has launched local currency funding options for Argentine pesos (ARS) and Mexican pesos (MXN), marking a strategic push into Latin America's crypto markets. The exchange now supports domestic deposits through local payment rails, eliminating the need for costly international transfers.

In Argentina, where inflation surpassed 200% in 2023, Kraken's VASP registration with the CNV regulator provides a compliant on-ramp for 350+ digital assets. "Local rails and regulatory clarity position us to serve these markets with the trust and security they deserve," said Mark Greenberg, Kraken's Global Head of Consumer.

The MOVE addresses growing demand for dollar alternatives in emerging economies. Deposits auto-convert to USD at competitive FX rates, offering inflation-battered users seamless access to global crypto markets through a single platform.

Bitcoin Price Rockets to Record High — Bulls Celebrate Milestone

Bitcoin surged past $110,500, gaining over 5% to establish a new all-time high above $116,000. The rally breached multiple resistance levels, including a bearish trend line at $111,000 on the BTC/USD hourly chart (Kraken data). Momentum remains strong as the cryptocurrency consolidates above $113,500 and the 100-hour Simple Moving Average.

Technical indicators suggest potential for further upside if BTC clears the $116,800 resistance zone. Market participants now watch for a decisive close above this level, which could propel prices toward uncharted territory. The current retracement holds above 23.6% Fibonacci support from the $110,600 swing low.