Changpeng ‘CZ’ Zhao, CEO of Binance, hinted that Binance is planning to have a fiat-to-crypto exchange in Argentina. This week, Binance also announced that every blockchain project that receives funding from Binance Labs or LatamEx will see a matching investment of up to $50,000 from the Argentinian government. Binance has already launched two fiat-to-crypto exchanges in Uganda and Jersey.
This would confirm The Block’s earlier reporting that the next likely launch locations of fiat-to-crypto exchanges will be South Korea, Lichtenstein, Argentina, Russia and Turkey. This year, Binance plans to launch at least two more; one in Malta and one in Singapore. Binance is reportedly also considering Bermuda as a potential home for a fiat-to-crypto exchange.
Previous version said that Zhao confirmed the new exchange would be in Argentina. The text has been changed to ‘hinted at’.