CZ on Argentina: "Guess where we will have a new fiat-to-crypto exchange?"

09 Mar, 2019
by Ryan Boltman
News
CZ on Argentina: Guess where we will have a new fiat-to-crypto exchange?

Binance CEO Changpeng Zhao has hinted at the possibility of opening the next fiat-to-crypto exchange in Argentina following the news that the Argentina Government have matched 1:1 Binance investments for blockchain projects. 

Earlier this week, Binance announced that Argentina had partnered with the World's number one exchange in an agreement that will see Argentina invest in the same projects Binance invests in, on a 1:1 ratio.

 Read more: Binance and the Argentine government to co-invest in blockchain projects

Argentina are really pushing blockchain adoption, and the latest move with Binance Labs will see Argentina invest in blockchain projects run by Binance Labs. Argentina's Ministry of Production and Labor announced that they will be offering a grant of up to $50,000 on every project that Binance Labs invests in, essential equalling the Binance investment on a 1:1 ratio.

Argentina plan to invest in three to 10 projects per year, and become a Binance Labs' partner in investments being made in blockchain-related projects in the country.

The move most definitely got CZ excited as he hinted at the possibility of opening the next fiat-to-crypto exchange in the country.

Read more: New Binance fiat-to-crypto exchange with EUR and GBP pairs: open for 58 countries

Binance have already launched Binance Jersey, The Euro and GBP fiat-to-crypto exchange based in Europe.

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