Binance, the cryptocurrency exchange, has recently announced the introduction of a new feature that allows its users in Argentina to directly convert local currency into cryptocurrency assets. The platform’s expansion into South America is set to make it even more accessible to its clients on a global scale. Binance’s Argentinian branch will provide users with the ability to convert pesos into cryptocurrencies with the help of a local partner company.
Maximiliano Hinz, Binance’s director for Latam Cono Sur, was thrilled with the announcement and stated that the new service is a reflection of the platform’s commitment to prioritizing its clients’ needs.
Despite facing regulatory scrutiny from the US authorities and coming under intense criticism online, Binance has not slowed down its global expansion plans. This includes a renewed interest in the South Korean and Japanese markets through its recent acquisitions of Gopax and Sakura, respectively.
Argentina’s high inflation rate, which stands at over 102%, has made digital assets increasingly appealing despite their relative volatility. Since last summer, the country has shown its crypto-friendliness, with the province of Mendoza accepting tax payments in digital currencies.
The platform’s latest offering is set to solidify Binance’s reputation as a market leader in cryptocurrency exchanges and an enabler of seamless cryptocurrency transactions. With its continued growth and expansion into new markets, the platform aims to make cryptocurrencies more accessible to a global audience.