A Fiat-Crypto collaboration is brewing between Argentina and Binance. Argentina’s Ministry of Production and Labour is likely to invest in blockchain projects alongside Binance. The renowned exchange will be matching any investment that’s up to $50,000 for any blockchain based project in Argentina that is backed by a local accelerator, Labs and Founders.
Binance has started offering its users educational resources through its Binance Academy. Users can now access articles in Indonesia’s official language, Bahasa. This new partnership with Argentina comes at the right time.
It would seem that Binance is looking for ways to penetrate and dominate emerging markets. Binance movement into countries like Indonesia and Argentina at this time shows that they believe that the blockchain technology and cryptocurrencies will take root in emerging markets.
Binance and Argentina will be going into blockchain investments for a four-year period. Ella Zhang of Binance Labs explains what this partnership means for blockchain technologies.
She says, “Argentina is at the forefront of blockchain adoption and we’ve witnessed how it’s becoming home to some very passionate blockchain communities during our trip there.”
The Ministry has reportedly agreed to such investments for a four-year period. Ella Zhang of Binance Labs remarked on how this shows Argentina’s belief in the blockchain technology.
Binance CEO Changpeng Zhao, asked a question on Twitter in response to a tweet by the Argentine government approving blockchain technology. He tweeted, “guess where we will have a new fiat-to-crypto exchange next?”
Argentina is not the only country on Binance’s list as the exchange had previously launched similar projects in Lichenstein, Singapore and Jersey. Binance will also be launching a fiat based exchange in South American in the coming months.
The exchange will also be performing a system will performing a system upgrade that will take 8 hours starting at 2019/03/12 2:00 AM (UTC). All deposits, withdrawals and trading will be halted during the upgrade.
What do you think about a Fiat – crypto collaboration between Binance and Argentina? Share your opinion with us in the comment section below.
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