Binance enabled the option to fund (deposit) and withdraw bolivars (VES) directly from its platform to Venezuelan banks via Pago Móvil or bank transfer, without having to find an individual counterparty in the P2P market.
Who is behind this agreement?
Binance: Operates under its international corporate framework. Binance does not directly process or hold bolivars in Venezuela.
Casa de Cambio Insular, S.A.: The Venezuelan financial institution that processes and holds the local-currency (bolivar) on-ramp and off-ramp. It is formally established and regulated by SUDEBAN and the Central Bank of Venezuela (BCV).