How does ARQ operate with digital assets in Argentina?
ARQ is registered with the Comisión Nacional de Valores (CNV) as a Virtual Asset Service Provider (PSAV, registration N°92). The registered entity is a branch of Pier 5, S.A. de C.V., operating under the name DolarApp México S.A. de C.V. – SSE.
What activities does the Argentine branch perform?
Among the activities performed by the Argentine branch are conversions between Argentine pesos (ARS) and digital assets (USDc and EURc). This includes, for example:
Converting ARS to USDc or EURc.
Converting USDc or EURc to ARS.
USDc or EURc holdings that do not involve a conversion to or from Argentine pesos are not part of the Argentine branch's activities. This includes, for example:
USDc received (via ACH or Wire) through your U.S. account details.
EURc received (via SEPA) through your European account details (IBAN).
Does the Argentine branch perform all operations itself?
No. In accordance with CNV regulations, the Argentine branch has agreements with affiliated companies to provide certain services, including the custody of digital assets (USDc and EURc), as well as certain operational and technological functions.
As a result, USDc and EURc holdings, and the services related to their custody, are provided outside Argentina by the corresponding entities. With respect to digital asset transactions, the Argentine branch's role is limited to conversions between Argentine pesos (ARS) and digital assets (USDc or EURc), or vice versa.