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.
#Binance Pay has partnered with LATAM based Credencial Payments, allowing users to pay with crypto in real time.
— CZ 🔶 Binance (@cz_binance) June 8, 2023
Binance Pay se alió con Credencial Payment para facilitar pagos digitales con criptomonedas https://t.co/DGHyIunRDL
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:
Payments are one of the first use cases for cryptocurrencies, and we are convinced that their adoption has a lot of room to grow. Thanks to this alliance, users will be able to use Binance Pay to pay with the cryptocurrency of their choice. This is a new step in our ongoing efforts to promote global cryptocurrency adoption in a tangible way, bringing it ever closer to everyday life.
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 and Mastercard, the two largest payment card operators globally.
Despite being sued by U.S. SEC, Binance (BNB) has no plans to cease HR activities. As announced 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.
Mushumir Butt
Tomiwabold Olajide
Yuri Molchan
