Through a strategic partnership with Latamex, the giant South Korean exchange Bithumb announced a gateway for Latin American users to buy crypto coins with fiduciary coins.
In an official statement on its website, Bithumb said that the partnership will allow users to buy digital coins using the Latamex channel on its website, in the ‚Fiat‘ section displayed within the ‚Buy Crypto‘ section.
The options admitted through Latamex to buy crypto coins in Bithumb include for the Latin American countries of Argentina, Mexico and Brazil, thus establishing a natural bridge for the purchase of digital assets with Argentine Peso „ARS“, Brazilian Real „BRL“ and Mexican Pesos „MXN“ respectively.
The Bithumb exchange would apply for an IPO in South Korea
For now, the payment method available for the fiat-crypto ramp in these countries of the region within the Asian exchange will be by bank transfer and includes Bitcoin, Ethereum, Litecoin, EOS and Tron crypto currencies.
This announcement joins another recent one launched by the same exchange to generate more adoption to a wide number of countries, allowing the online purchase of cryptomonies with local fiduciary currencies.
On July 30th, the exchange announced its partnership with Paxful so that users can buy crypto-currencies using the Paxful channel available on the Bithumb website in around twenty supported countries, including Argentina and Brazil.
Binance launches Latamex, a platform to buy crypto-currencies with local currencies in Latin America
The partnership allows users residing in selected countries to acquire digital assets through Paxful with Argentinean Pesos and Brazilian Reales for Latin America, through a set of payment gateways available as bank transfers, SEPA, Mercado Pago, Skrill, PayPal, among other popular ones that work in P2P exchange.
The restriction is limited to the purchase of Bitcoin exclusively for users with the global P2P trading company.
Latamex is the key
Now this extension of available currencies through a direct ramp within the exchange through Latamex in the selected countries of the LATAM region, undoubtedly means an advance for the inclusion of new users towards the platform and the crypto ecosystem in general, thus joining other market options such as Bitcoin Revolution, which already presents similar options since a few months ago.
And precisely Latamex, is the option also used by Binance Exchange since December 12, 2019 so that people from Brazil and Argentina can buy and sell crypto currencies in their respective local currencies through its system called Binance Fiat Gateway.
Binance incorporated the Chilean (CLP) and Uruguayan (UYU) pesos to its P2P platform
At the time, the founder and creator of the world’s largest volume exchange, Changpeng ‚CZ‘ Zhao, noted that „The cryptomoney industry is still in its infancy and most of the world’s money is still in fiat.
„Building fiat links is what we need now to grow the ecosystem, increase adoption, and introduce cryptomonies to more users,“ CZ said in the company’s official statement.
Latamex has a wide variety of allies in its portfolio that include not only large exchanges, but consolidated Blockchain platforms such as Stellar and RSK, in addition to some traditional payment gateways such as Changelly, Defiant, Consbit, including another giant exchange of the OKEx crypto ecosystem.
Its portal allows the direct purchase of fiat currency crypt coins in Argentina, Brazil and Mexico from eight recognized digital assets: Bitcoin, Ethereum, Litecoin, EOS, Tron, NEO, Ontology and the stablecoin TUSD.