Binance Latamex creates a fiat gateway for customers in Latin America

Binance, one of the largest cryptocurrency exchanges in the world, announced the launch of its new fiat gateway for Latin America.

Binance launches Latamex to serve Latin America's unbanked.

According to the company's latest announcement, Binance launched its first-ever fiat gateway focused on Latin America in a bid to bring cryptocurrencies to more people.

The new platform, called Latamex, has been created under the Binance Fiat Gateway and is a product of a partnership with the Settle Network, the company said.

Partnering with the largest digital asset settlement network in Latin America will enable Binance to make cryptocurrencies more accessible to people in the region.

New fiat gateways for crypto users in Latin America.

During the announcement at IaBitConf in Uruguay, Binance said that customers in these two countries will be able to buy cryptocurrencies using both the Argentine peso and the Brazilian real.

Direct purchases are only available for Bitcoin, Ethereum, Binance Coin, and stablecoins such as BUSD, the company said.

The company's partnership with Binance will enable it to leverage the existing infrastructure in Argentina and Brazil to increase financial freedom and bring cryptocurrencies to the masses.

Latamex will be joining the ranks of other Binance subsidiaries around the world that offer fiat to crypto trading, including BinanceUS, Binance Uganda, Binance Singapore, and Binance Jersey.