That South America is one of the most important squares as regards the mass adoption of cryptocurrencies as payment systems is widely known, as it is commonly accepted that Binance is one of the most enterprising and far-sighted platforms on the market; it was enough to associate these two elements to not be surprised by the announcement made today during the BitConf, a blockchain event currently underway in Montevideo, Uruguay. In fact, Binance has announced the launch of a new gateway, developed in partnership with Settle Network, which will allow the direct exchange between cryptocurrencies and fiat currency in Latin America and which will take the name of Latamex. The new platform will be launched in Argentina and Brazil, allowing the direct purchase of cryptocurrencies using Argentine and Brazilian real pesos, to then be extended to other countries in the area; users will then be able to buy bitcoins, ethereum and, of course, the binance coin. Being a particularly important announcement, a declaration by Chanpeng Zhao, the founder of Binance, could not be missing, as he stated that:

There is a strong demand for cryptocurrencies in Latin America, in particular for financial access; we know that around 50% of the Latin American population does not have bank accounts and Latamex is a response to the needs of our users and to the current market climate. Working with Settle Network allows us to immediately bridge the gap between fiat and cryptocurrency for Latin American traders. Continuing to collaborate with our strategic partner, Settle Network, for this market in order to ensure greater accessibility of cryptocurrencies in Latin America and we will support further fiat currencies in the future

CZ, pseudonym twitter of the founder of Binance, then recalled that the cryptocurrency industry is still in its initial stages and that the bulk of the liquidity in circulation on a global level is still relative to fiat currency, consequently building easy-to-use gateways for converting legal tender currency into cryptocurrency is one of the crucial aspects to allow the mass adoption of cryptocurrencies. Pablo Orlando, founder and CEO of Settle Network, recalled that South America is now a central market for the growth of cryptocurrencies and reiterated how the possibility of easily exchanging fiat currency with cryptocurrencies, obtained precisely through the partnership with Binance, is a fundamental step to guarantee financial freedom in the region.