CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$26,482.00
  • ethereum
    ETH$1,844.45
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Argentina Approves BTC Index Futures Contracts on Matba Rofex Exchange: Report

    Argentina Approves BTC Index Futures Contracts on Matba Rofex Exchange: Report

    Author: Dimitar Dzhondzhorov

    Last Updated Apr 12, 2023 @ 14:33

    Matba Rofex received approval to launch regulated BTC index futures contracts in Argentina.

    Argentina’s securities regulator – the National Commission of Value (CNV) – reportedly authorized the local exchange Matba Rofex to launch regulated Bitcoin index futures contracts. 

    Argentines have recently shown rising interest in the primary cryptocurrency and other digital assets. One factor behind the surging appetite could be the concerning inflation rate in the country and the political instability. 

    Additional BTC Options for the Locals

    The BTC index futures contracts will enable locals to gain exposure to the price of the primary cryptocurrency without having to hold the asset. Deposits will be made in Argentine pesos – the nation’s official currency – via bank transfers. 

    The CNV’s approval is part of a broad strategy to embrace new technologies and promote a variety of monetary products to the population.

    The domestic exchange Matba Rofex must have a valid agreement with a Payment Services Provider (PSP) registered with Argentina’s central bank to launch such contracts. Its President – Andres Ponte – praised the entity for becoming the first in Latin America to offer regulated BTC futures.

    ADVERTISEMENT

    The platform will also warn investors about the possible risks when dealing with the asset class due to its infamous volatility.

    Cryptocurrencies have become increasingly popular in the South American country lately. The political chaos and monetary issues could be a reason for that interest.

    As CryptoPotato reported last summer, numerous local crypto exchanges, including Binance and Lemon Cash, informed that the cost of buying Tether (USDT) using Argentinian pesos (ARS) soared significantly. It is worth noting that this happened at a time when Martin Guzman – former Minister of Economy – resigned from his post, hinting about additional problems for the domestic economy.

    The Disturbing Inflation 

    The inflation rate in Argentina is also a factor worth observing. The annual figures recently surpassed 100%, something unseen since the hyperinflation in 1991. 

    “The other day, I came and asked for three tangerines, two oranges, two bananas, and half a kilo of tomatoes. When he told me it cost 650 pesos [$3.22], I told him to take everything out and leave just the tomatoes because I don’t have enough money,” an elderly woman called Irene Devita described the situation in her homeland.

    Contrary to the devaluation of the Argentinean peso, bitcoin’s price has headed north in the past several months. It recently reached the $30,000 milestone, recording an 80% increase since the beginning of the year.

    The residents of many nations with similar issues, such as Lebanese and Turks, have previously shifted their focus toward the leading digital asset and other tokens.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • Argentina
      Got Bitcoin? Argentina's Inflation Rate is Now Over 100%
    • Bitcoin Tests $20k As End of Week Rally Continues
    • bitcoing_green_cover
      Bitcoin Soars to $19,000 Amid $380 Million in Liquidations
    Tags: Argentina Bitcoin Bitcoin Futures
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Dimitar Dzhondzhorov
    More posts by this author

    Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.

  • bitcoin
    BTC$26,482.00
  • ethereum
    ETH$1,844.45
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    What is a Meme Coin? The Biggest Meme Coins You Must Know About

    What is a Meme Coin? The Biggest Meme Coins You Must Know About

    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!