Using a communication, the popular cryptocurrency exchange, Binance, announced its plans to enter the Latin American market, specifically the Brazilian and Argentine market.
The new platform for the Latin American market will be called Latamex and will be dedicated to offer purchase and sale of crypto assets, and fiat money can be used to perform these operations. Thus, the service that Latamex will offer will be available in Brazilian reals and Argentine pesos.
As reported Criptonoticias, the Latamex platform is part of the Binance Fiat Gateway service and joins its other fiduciary gateway partners: Simplex, Koinal, TrustToken, Paxos and Paxful. Likewise, it has the association of the network of digital assets of Settle Network.
In this regard, Binance CEO Changpeng Zhao said:
“There is a strong need for cryptocurrencies in Latin America, especially for financial access (…) Approximately 50 percent of the Latin American population does not have a bank account, and Latamex is a response to the demands of our users and the current market climate . »
Finally, the association between Binance and Paxful The former will serve as an additional access channel for fiat money to cryptocurrencies for its users in Latin America and other regions.