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Peru's Kambista set to launch in Argentina, plans broader LatAm expansion

Peruvian digital foreign exchange house Kambista will start operating in Argentina in August, more than two years after the company was established in January 2017, Gestión reported, citing CEO Daniel Bonifaz.

In Argentina, the company will operate under the name Tu Kash and has already agreed to strategic partnerships with local financial firms that have experience operating in the market, the executive said.

Kambista also has plans to expand throughout the rest of Latin America, with hopes to enter Chile, Uruguay and Bolivia, among other countries, by 2023. In the long term, it plans to establish a presence in the larger market of Mexico.

"We consider that it is the right time to internationalize our company and we hope to replicate [in Argentina] the success we have had in Peru, since they are very similar economic scenarios," Bonifaz was quoted as saying.