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Binance Pay Scores Crucial Partnership in LatAm Despite Regulary Attacks

Thu, 06/08/2023 - 15:51
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Vladislav Sopov
Binance Pay, payments processor by world's largest crypto exchange Binance, teams up with Credencial Payments
Binance Pay Scores Crucial Partnership in LatAm Despite Regulary Attacks
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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:

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.

SHIB Rival FLOKI Announces Strategic Deal With Binance Pay

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."

Binance CEO Behind Something Extremely Sketchy, SEC Confirms

As covered by U.Today previously, Binance (BNB) is accused of selling unregistered securities to U.S. citizens.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)