Wednesday, May 27, 2020

Binance CEO Tips Crypto Community On Plan To Create Fiat-To-Crypto Exchange In Argentina

Changpeng Zhao, the CEO of Binance popular known as CZ hints the crypto space on the plan of the giant crypto exchange to create fiat to crypto exchange in Argentina. CZ revealed this in a recent tweet response to a piece published by crypto news website CoinSpice.

New Fiat-To-Crypto Exchange

In response to a piece posted by crypto news site Coinspice, CZ hints the crypto space of the next possible location of the Binance crypto to fiat exchange. The article which was about the agreement between the government of Argentina with Binance lab, the exchange’s investment and social impact arm, to co-invest in blockchain projects that are backed by the exchange.

CZ response to the tweet post indicates that Binance has plans to establish a fiat to crypto exchange in Argentina. The tweet stated that “Guess where we will have a new fiat-to-crypto exchange?”

Meanwhile, the exchange had revealed in January that it plans to launch fiat to crypto exchange in eight countries. A spokesperson of the exchange refused to mention the last six of the countries while two countries were affirmed by the exchange – Singapore, and Malta. The recent tweet of CZ shows that Argentina is part of the remaining six while others are yet to be revealed.

In January 2019, Binance announced that it had partnered with Israel-based payment processor Simplex to enable cryptocurrency purchases with debit and credit cards, including Visa and Mastercard. The purchases are subject to Simplex’s local bank policies and are limited to Bitcoin, Ethereum,
Litecoin and Ripples.

Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies. Since early 2018, Binance is considered as the biggest cryptocurrency exchange in the world in terms of trading volume.

Expansion Of Crypto Trading Platforms

Recently, multi-asset trading platform eToro expanded its crypto trading services to the united states for its investors and traders. The exchange which currently has about 10 million users will start facilitating the trade of 13 unspecified crypto assets and release a cryptocurrency multisignature wallet to customers in 32 U.S. states and territories.

Also, Swissquote, a Swiss online banking group integrate crypto custody as it plans to expand to Asia. A branch is established in Singapore as it plans to obtain services license from the Monetary Authority of Singapore (MAS). It will also be listing 14 Asian exchanges on its platform for real-time trading.

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