Did the CEO of Binance Just Confirm Plans For A Fiat-to-crypto Exchange in Argentina?

Changpeng Zhao, the Chief Executive Officer or CEO of top cryptocurrency exchange Binance has recently published a tweet suggesting that Binance is exploring the possibilities of creating a new cryptocurrency exchange for fiat-to-crypto conversions in Argentina. The tweet was posted on 9th March, 2019.

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A crypto media outlet called the CoinSpice had published an article, and CZ, as the CEO is commonly known as, responded to it on his Twitter profile.

The article suggested that an agreement had been concluded between Binance Labs and Argentina. Binance Labs is the arm of Binance crypto exchange which deals with its social impact and its investments, with special focus on blockchain projects to be funded and backed by the crypto exchange.

Replying to this article in question, the tweet said:

“Guess where we will have a new fiat-to-crypto exchange?”

Changpeng Zhao’s tweet comes as something akin to a confirmation that Binance is indeed looking forward to the establishment of a cryptocurrency exchange in Argentina. According to news reports that had surfaced in January this year, Binance is hoping to establish fiat-to-crypto exchanges in eight new countries.

One of these is apparently supposed to be Argentina. However, the spokesperson of Binance at the time had confirmed plans of establishing new locations in Malta and Singapore and not Argentina or any of the other locations.

Binance, which boasts of 10 million users, has been rolling out a number of new plans and projects this year and it is clearly enjoying a rather good run. In the later part of last year, Binance CEO Changpeng Zhao had said that the company had quite a few new projects up its sleeves.

Since then, the firm has seen several rollouts that testify to its enviable success in the market. In the last few months, it has come out with the Binance Chain blockchain and has also tied up with the Simplex payment processor to provide support for credit card payments to customers buying cryptocurrencies.