Crypto Exchange Binance Partners With Inswitch For FIAT On-Off Ramp In LATAM

Twitter icon  •  Published vor 1 Jahr  •  Hassan Maishera

Payment infrastructure firm Inswitch partnered with Binance last week to launch on-/off-ramp services that allow people to buy and sell cryptocurrencies in Latin America.

Inswitch, an embedded financial technology and payment infrastructure firm, announced last week that it had partnered with Binance, the world's leading blockchain ecosystem and cryptocurrency infrastructure provider.

According to the company’s press release, the two entities are launching on-/off-ramp services that allow people to buy and sell cryptocurrencies in the context of LATAM and crypto adoption.

Inswitch said its on-/off-ramp services are integrated with the most important payment methods, banks and local currencies in over 10 countries in Latin America. Hence, making it possible for users to convert fiat currencies and digital assets with their Binance wallets,

With the on-ramp service, it becomes easier to exchange fiat currencies for cryptocurrencies. Since fiat currencies are, by far, the most widely adopted form of currency globally, exchanging fiat is the most accessible method to get cryptocurrencies, the team added.

On the other hand, an "off-ramp" service for fiat money to cryptocurrency allows the exchange of cryptocurrencies for fiat money.

While commenting on this latest development, Ronald Alvarenga, CEO of Inswitch, said;

"We are working to make the whole experience of buying and selling crypto more appealing and effortless, to bring more users in LATAM to the crypto market with on-/off-ramp services for both new and existing cryptocurrency users. With a simple and friendly user experience and easily integrated APIs, companies can expand their capabilities and features and become the trusted wallets of choice for the next billion cryptocurrency users".

Lara Legros, Director of Fiat LATAM of Binance, added that;

"We are very excited about this partnership with Inswitch, at Binance, our focus is always our customers, we are committed to providing them with the most seamless, secure and optimized payment experience. We understand the peculiarities of every country in the region, and this partnership will allow us to reach a higher number of users in Latam whilst maintaining our core mission of financial inclusion."

The Inswitch team added that the interest in using cryptocurrencies for everyday transactions is growing day by day globally. Hence, it is important to have a solution that allows exchanging fiat currencies into crypto and vice versa. 

Inswitch is a global leader in embedded financial technology, helping companies and organizations to rapidly implement their own digital financial services. With the Inswitch API-based Fintech-as-a-Service platform, any company can become a Fintech and choose the best solution for its specific needs. 

Meanwhile, Binance is the world's leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. 

Binance’s continued expansion and more positive Binance reviews ensure that the cryptocurrency exchange further cements its place as the world’s leading digital asset trading platform.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.