Technically yes, but not with Launch alone... Adobe's geo-location data is part of post-processing; so you can't leverage it in your Rules...
That said, if you site has code to get location, or you want to code a solution that does an API call to an IP Address service to get back location data, then use that to trigger the banner that would technically be doable....
I believe Target (if you have Target) would have location information available since that tool is specifically designed to load content based on user preferences, behaviours, patterns, etc.... but since you are asking about Launch, and not Target, I am guessing you only have Launch to work with?
