Starting December 12th, 2019 people in Brazil and Argentina can buy and sell cryptocurrencies with its respective local fiat currencies through the Binance Fiat Gateway; Binance reveals plans and the new gateway during the LaBitconf in Uruguay.
Binance, the leading global cryptocurrency exchange by trading volume and users, today announced the launch of its fiat currency gateway for Latin America. The new platform, Latamex, under the Binance Fiat Gateway will enable direct fiat purchases of cryptocurrency for Latin American users on Binance.com in partnership with Settle Network, the largest digital assets settlement network in Latin America.
The new platform for Latin America will initially launch in Argentina and Brazil for direct purchases of cryptocurrencies, including BTC, BNB, ETH and stablecoins such as BUSD, with the Argentine Peso (ARS) and Brazilian Real (BRL) through the Binance Fiat Gateway channel.
“There is a strong need for cryptocurrency in Latin America, especially for financial access,” said Binance CEO CZ (Changpeng Zhao). “Roughly 50 percent of the Latin American population is unbanked, and Latamex is a response to our users’ demands and the current market climate. Working with Settle Network allows us to instantly bridge the gap between fiat and crypto for Latin American traders. We are continuing to build with our key partner, Settle Network, to bring wider accessibility of cryptocurrency in Latin America and will support additional local fiat currencies in the region in the future.”
“Latin America has illustrated one of the largest needs and use cases for blockchain and cryptocurrency adoption,” said Pablo Orlando, Founder and CEO of Settle Network. “Partnering with Binance has allowed us to further open fiat gateways for Latin American users together and bring larger adoption forward to provide financial freedom in the region.”
“The crypto industry is still in its early stages and most of the world’s money is still in fiat,” said CZ. “Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users.”
Latamex is part of Binance’s partners to provide easy access and more options to people throughout regions for the purchase of cryptocurrency with fiat in a fast and secure manner. For more information on buying and selling cryptocurrencies on Binance’s Fiat Gateway channel, please visit https://www.binance.com/en/buy-sell-crypto.
In addition, Binance licenses its matching engine and wallet technologies to several partner platforms, including Binance Uganda, Binance Jersey, Binance Singapore and newly launched Binance US, which offer fiat-crypto trading functions across a variety of currency pairs.
Stay tuned with more information about Latamex on https://latamex.com/, on Binance LATAM’s Facebook page: https://www.facebook.com/BinanceLatam/, and Binance Portuguese Facebook page: https://www.facebook.com/binanceportugues/and follow the official Telegram channel for Binance announcements in Spanish: https://t.me/BinanceSpanishAnuncios
Binance is a blockchain ecosystem comprised of several arms to serve the greater mission of blockchain advancement and the freedom of money. Binance Exchange is the leading global cryptocurrency exchange by trading volume, with users from over 180 countries and regions. The Binance ecosystem is also comprised of Binance Labs (venture capital arm and incubator), Binance DEX (decentralized exchange feature developed on top of its native, community-driven blockchain software system, Binance Chain), Binance Launchpad (token sale platform), Binance Academy (educational portal), Binance Research (market analysis), Binance Charity Foundation (blockchain-powered donation platform and non-profit for aiding in sustainability) and Trust Wallet (its official multi-coin wallet and dApps browser). For more information, visit: https://www.binance.com
About Settle Network
Settle Network is the largest digital assets Settlement network across LATAM (Latin America) for exchange and cross-border payments. Settle Network provides programmatic interoperability between traditional and digital assets, by leveraging financial infrastructure in every country they operate. Covering the most relevant markets, including the largest banks and thousands of cash retail locations. This enables unlimited and compliant interoperability between digital assets and the most important local currencies. For more information, visit: https://settlenetwork.com and https://latamex.com/