Argentina's newly elected president, Javier Milei, promised economic reforms during his campaign. Sebastian Serrano, CEO of Ripio, stated that the specifics of the reforms will only be known after Milei's inauguration on December 10th, but regardless of what happens, stablecoins will play an important role in the financial lives of Argentinians. Serrano said that the cryptocurrency community in Argentina has responded enthusiastically to the election of this former economics professor. In October, Ripio, a cryptocurrency exchange based in Argentina, saw a 180% increase in new users, and on November 19th (the day of Milei's election), there was a 110% increase in new users compared to the previous month.

The benchmark stock index MERVAL in Argentina closed up more than 4%, accumulating a total increase of 36.26% over three trading days.

Argentina's black market peso fell by almost 10% to over 1,000 per dollar after the country's presidential election was won by a libertarian who favours dollarisation. The local S&P Merval stock index was up 20%, led by a near 40% surge in the shares of state energy firm YPF, catching up with a sharp rise in its US-listed stock which had traded a day earlier, on hints by the new president he could privatise the company. Milei's dollar plans put pressure on the embattled peso currency, which is held in check by strict capital controls. International bonds were climbing on Tuesday for a second straight day, marking gains of as much as 0.6 cents with issues being bid between 29-34 cents.