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30 March 2020
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Tweet from Binance CEO suggests launching fiat-to-crypto exchange in Argentina

A recent tweet from Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange, suggests the launch of a crypto-to-fiat exchange in Argentina. In addition, Binance would also like to launch such exchanges in other countries.

 

The tweet in question of Changpeng Zhao, also known as CZ, is in response to a news article from CoinSpice. In the article, the crypto-news website writes about the agreement that the Argentine government concluded with Binance Labs in which Binance’s investment branch stipulates that it will invest in Argentine blockchain projects.

The tweet from CZ is vague, but given the fact that it is in response to the news article, it can be assumed that the CEO is referring to Argentina as the destination country for a new crypto-to-fiat exchange. His tweet reads:

Three times guessing where we will launch a new fiat-to-crypto exchange?

Binance would also already be planning to launch such exchanges in eight countries in total. The spokesperson for the cryptocurrency exchange then confirmed only two of the eight countries; Malta and Singapore. Argentina now appears to belong in that list at home, but nothing is known about the other five countries.

Binance is the largest cryptocurrency exchange based on adjusted trading volume. The past 24 hours saw just over $ 900 million in transactions. Recently, the exchange added credit cards as a payment method via the Simplex payment processor.

Binance also offers a platform for beginning cryptocurrency projects called Binance Launchpad. On the platform, crypto projects can hold an ICO in which investors can participate with Binance Coin, and it appears to be a great success. Celer Network will be the next project that will use the platform, after the great success of the ICOs of the BitTorrent token and Fetch.AI. Crypto Insiders last year interviewed the CTO and co-founder of Fetch.AI at Blockchain Expo Europe 2018. Click here for that full interview.

 

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