The platform only allows for purchases and sales of the cryptos – withdrawals are not available.
Uala, an Argentina-based fintech company, has enabled bitcoin (BTC) and ether (ETH) trading for its customers in that country.
Uala is the first financial player to launch crypto trading in Argentina since the local central bank in May barred two banks from allowing its customers access to cryptocurrencies.
Uala created a special company to provide its crypto service – Uanex, which is based in England and has the Latin American crypto company Bitso as its crypto liquidity provider.
In August, Uala raised a $350 million Series D funding round co-led by SoftBank and Tencent’ affiliates. The investment gave the company a post-money valuation of $2.45 billion.