Binance Pay Joins Forces with LATAM-based Credencial Payments

In a significant move to expand the accessibility of digital currencies in Latin America (LATAM), Binance Pay has joined forces with LATAM based payment solution provider- Credencial Payments. Binance CEO CZ took to Twitter to reshare the strategic partnership aiming to simplify and improve cryptocurrency payments across the region.

Binance Pay In LATAM

Binance Pay, a leading global cryptocurrency payment platform, will integrate seamlessly with Credencial Payments’ existing infrastructure, enabling merchants to accept digital currencies effortlessly.

With the integration of Binance Pay, businesses in LATAM will gain access to a wide range of supported cryptocurrencies, empowering their customers to make real-time payments using their preferred digital assets. Credencial Payments will handle the necessary conversions into local fiat currencies, ensuring a smooth transaction experience for all parties involved.

Inflation, cross-border payments, assets tokenization and nonfungible tokens (NFTs) were among the major drivers for crypto adoption across Latin America in 2022. They made up 9.1% of the global crypto value received in 2022. Brazil’s central bank will test its CBDC this year and release to over 200 million people in 2024.

Crypto Adoption In LATAM

Maximiliano Hinz, Director of Binance for LATAM Cono Sur, expressed enthusiasm about the partnership’s potential impact on cryptocurrency adoption in the region. Hinz stated,

“Our aim is to make cryptocurrency payments more accessible and integrated into everyday life. This partnership with Credencial Payments is a significant step towards achieving that goal.”

Ignacio Szperling, Strategy Manager of Credencial Payments, emphasized the value of the partnership, saying, “This agreement with Binance will promote new payment methods and simplify transactions for both merchants and consumers, bringing the best of the crypto world to the traditional one.”

As the collaboration unfolds, users can expect a more seamless and user-friendly experience when making digital cryptocurrency payments. With Binance Pay and Credencial Payments working hand in hand, the barriers to widespread adoption of digital currencies in LATAM are steadily diminishing.