Binance Expansion: New Fiat-To-Crypto Exchange Supporting Bitcoin (BTC) And Ethereum (ETH) Is On Its Way
Today, Binance suspended deposits, withdrawals, and trading starting at 2:00 am (UTC).
The upgrade was scheduled to last for about 8 hours, but they announced that everything was completed earlier.
Other than this, Binance seems to be working on expansion these days.
The exchange’s CEO, Changpeng Zhao just dropped a hint regarding the location of the company’s next fiat-to-crypto exchange.
Binance in Argentina
While responding to a tweet about a new agreement between Argentina and Binance Labs, which is Binance’s venture capital arm, Zhao posted a photo in which he suggests that his team will begin to tango.
Binance is planning to launch exchanges in a few countries this year including Malta, the heaven for crypto lovers, and Singapore.
They launched the very first fiat-to-crypto exchange in Uganda back in October 2018.
In January 2019, Binance launched its European-focused fiat-to-crypto trading platform in Jersey, pairing Bitcoin and Ethereum with the euro and British pound.
Binance revealed that a separate partnership with Argentina’s government is official.
The country will support up to 10 blockchain projects by investing about $50,000.
Binance Labs director Ella Zhang says:
“Argentina is at the forefront of blockchain adoption and we’ve witnessed how it’s becoming home to some very passionate blockchain communities during our trip there. We are very excited to support blockchain projects, entrepreneurs and developers through our Buenos Aires chapter, to advise and mentor them, to find product-market fit, and provide them with in-time access to global blockchain technology development to solve local problems.”
Binance in the news
Binance recently announced that they are backing a scalability solution that supports mass adoption.
According to Binance CEO, Changpeng Zhao, scalability-related issues are currently delaying the mass adoption of crypto.
He’s supporting a blockchain startup that could very well rival Visa.