The global cryptocurrency infrastructure provider and blockchain ecosystem, Binance, and the financial technology company, Inswitch, recently announced the alliance between both companies for the launch of their on-ramp and off-ramp services that will allow people to buy and sell digital currencies in Latin America.
These entry/exit services of the company are considered by both partners as one of the largest operations carried out. Likewise, These services incorporate major local currencies, banks, and payment methods in more than 10 Latin American countries, making it possible for users to convert fiat currencies and digital assets with their Binance wallets.
For the executive director of Inswitch, Ronald Alvarenga, this experience will not only allow companies to expand, but in turn, they will have the opportunity to become reliable wallets for those who decide to choose them.
“We are working to make the experience of buying and selling cryptocurrencies more attractive and effortless, to attract more users in Latin America to the cryptocurrency market with entry and exit services for new and existing cryptocurrency users. With a user experience simple and friendly and easily integrated APIs, businesses can expand their capabilities and features and become the trusted wallets of choice for the next billion cryptocurrency users,” Alvarenga commented.
For her part, Lara Legros, director of Fiat Latin America at Binance, expressed her joy at this new alliance, and emphasized that, at Binance, they have always focused on their customers, so they feel committed to providing them with a more secure payment experience. , fluid and optimized to all your customers.
“We understand the peculiarities of each country in the region and this partnership will allow us to reach a greater number of users in Latin America while maintaining our core mission of financial inclusion,” culminated.
They also detail that a fiat-to-cryptocurrency “ramp” service allows the exchange of fiat currencies (government-issued currencies) into cryptocurrencies (Bitcoin, Ethereum, etc.).
Since fiat currency is one of the most popular forms of currency in the world, exchanging fiat currency is the most accessible method of obtaining cryptocurrency. Instead, a fiat-to-cryptocurrency “off-ramp” service allows the exchange of cryptocurrencies to fiat money.
Also They explain that the in/out payment rails of using Inswitch allow users to withdraw fiat money in a simple way that does not take days to clear, since these “in/out ramps” prevent restrictions and problems. legacy financials.
This alliance between both companies allows Inswitch’s integrated financial platform to be an option to cover the need that exists in using cryptocurrencies in daily transactions.
The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
It may interest you
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.