Binance Pay Secures Key Partnership in Latin America Amid Regulatory Challenges

Vignesh Karunanidhi

Binance’s Binance Pay has secured a key partnership in Latin America, the exchange announced today. Binance has been going through one of its toughest periods recently. With the SEC lawsuit alleging the exchange and CEO Changpeng Zhao, aka CZ, for numerous violations, the users have been worried about what will happen with the exchange.

Despite the regulatory uncertainties, the exchange has been growing its presence globally. According to a recent announcement from CZ, Binance Pay has collaborated with Credencial Payments, establishing its presence in Latin America.

Binance Pay’s new collaboration will allow users to pay with crypto

According to the announcement, the new collaboration between Binance Pay and Credencial Payments will allow users to pay with crypto in real time.

Maximiliano Hinz, director of Binance for Latam Southern Cone stated, “Payments are one of the first use cases for cryptocurrencies, and we are convinced that its adoption has a lot of room to grow. Thanks to this alliance, users will be able to use Binance Pay to pay with the cryptocurrency of their choice.”

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The news of the collaboration comes while CZ’s exchange is going through one of its toughest regulatory hurdles. However, the recent actions depict that the exchange is growing its user base despite the accusations.