Fintech Uala Launches Cryptocurrency Trading in Argentina

Argentine fintech Uala, which is backed by the likes of billionaires George Soros and Steve Cohen, ventured into crypto for the first time Friday, allowing customers to buy and sell Bitcoin and Ether with pesos through its app.

The move is another milestone for Ualá, which was valued at $2.5 billion in its latest funding round. The company already provides a slew of financial services based on a prepaid card managed through a mobile app. Uala, which has more than 5 million users in Argentina, Mexico and Colombia, created its own company called Uanex to manage the new products, founder and CEO Pierpaolo Barbieri said in interview.

Read more: Bloomberg