ARGENTINA Law and Practice Contributed by: Santiago J. Mora, Nicolas Garfunkel, Milagros Caneda and May Steward, GPG Advisory Partners
GPG Advisory Partners Av. Córdoba 315, 1st floor C1054AAC CABA Argentina Tel: +54 11 4313 6644/6655 Fax: +54 11 4313 6644/6655 Email: info@gpgadvisorypartners.com Web: www.gpgadvisorypartners.com
1. Fintech Market 1.1 Evolution of the Fintech Market
mutual funds ( Fondos Comunes de Inversión or FCIs) reached ARS5.6 trillion. Considered jointly, both rep - resent 6.3% of total peso-denominated private-sector deposits. One of the main regulatory developments in the pay - ments sector took place towards the end of 2025 with the presentation of the labour reform bill promoted by the government. This bill enables virtual accounts to be used for the payment of salaries, ending the exclusivity previously held by bank accounts for this purpose. The bill was expected to be discussed in February 2026. Regarding credit, according to the latest report from the Argentine Fintech Chamber, as of March 2025 Argentina had reached 5.2 million fintech credit hold - ers. Additionally, of the 34.6 million credits granted in the country as of March 2025, 16.5% were issued by fintech companies. By comparison, in December 2024 a total of 33 million credits had been granted, of which 15.2% were issued by fintech companies. On the cryptocurrency front, according to information from the Argentine Fintech Chamber, Argentina ranks among the top five countries worldwide in terms of crypto application users, with more than 2.5 million monthly active users, and is the highest-ranked Span - ish-speaking country in the list. In addition, Argentina is the second-largest market in the region by trans - action volume, with more than USD93.9 billion trans - acted on blockchain over the past year.
Argentina’s fintech market continued growing during the past year. According to the latest surveys, with 939 companies, Argentina ranks among the three largest fintech ecosystems in Latin America, alongside Brazil and Mexico. In terms of payments, according to the latest “Monthly Retail Payments Report” issued by the Argentine Cen - tral Bank ( Banco Central de la República Argentina or BCRA), as of November 2025 a total of 205 “pay - ment service providers offering payment accounts” ( Proveedores de Servicios de Pago que Ofrecen Cuentas de Pago or PSPCPs) had been incorporated into the registry administered by that authority. This represents a 20.6% increase compared to the 170 PSPCPs registered in November 2024. Likewise, in November 2025, 666.3 million immedi - ate “push” transfers were recorded, totalling ARS70.1 trillion, representing year-on-year increases of 20.3% in volume and 18.2% in real terms in value. 73% of these transfers originated from and/or were destined to a CVU (payment accounts provided by a PSPCP). With respect to payment accounts and funds invest - ed through PSPCPs, in October 2025, out of a total of 61.7 million payment accounts, 14.6 million of these recorded positive balances, totalling ARS0.6 trillion, while balances invested in money market
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