U.Today - A new partnership is set to allow businesses in Latin America to start accepting cryptocurrencies in their business operations. This, in turn, will speed up cryptocurrencies adoption in the region.
Binance (BNB) exchange strengthens its presence in LatAm, partners with local fintech heavyweight
According to the announcement shared by Binance CEO Changpeng "CZ" Zhao, Binance Pay, a retail payments unit of his ecosystem, inked a long-term strategic partnership with Credencial Payments, an influential regional fintech operator with presence in Argentina, Mexico and Uruguay.Within the framework of the new collaboration, citizens of Latin American countries will be able to pay with crypto in their Credencial Payments accounts. Seamless conversion to local currencies is also available in the application.
Maximiliano Hinz, the director of the Binance's LatAm unit, stresses that this mission is challenging yet important for the progress of Web3 tech in this thriving region:
As covered by U.Today previously, key Shiba Inu (SHIB) and Dogecoin (DOGE) competitor FLOKI was added to Binance Pay last week.
As such, for the first time ever, residents of Latin America will be able to use various cryptocurrencies for daily payments with no need for fiat on- and off-ramps.
Binance launches new HR initiatives amid SEC attacks
In 2021, the Binance (BNB) ecosystem expanded to Latin America with a couple of its products. Binance Card, a fiat-to-crypto payments instrument, was introduced to Argentina, Brazil and Colombia.Binance's new partner Credencial Payments also collaborates with Visa (NYSE:V) and Mastercard (NYSE:MA), the two largest payment card operators globally.
Despite being sued by U.S. SEC, Binance (BNB) has no plans to cease HR activities. As by CZ, it launches a new internship round for "future leaders."
As covered by U.Today previously, Binance (BNB) is accused of selling unregistered securities to U.S. citizens.