Binance joins Latam financial alliances to boost web3 adoption

Major crypto exchange Binance seeks to propel crypto and web3 adoption and development across the Latin American region by joining the Argentine Chamber of Fintech and Alianza In of Colombia.

Changpeng Zhao‘s Binance has announced that it has enlisted into the Cámara Argentina Fintech, the Argentine Fintech Chamber, and Alianza In, Colombia’s innovation and technology hub.

The exchange’s incorporation into these organizations is part of its efforts to facilitate the development and adoption of the blockchain industry in the region and promote regulatory frameworks to protect consumers. 

Binance says the partnership with both organizations is necessary because Latin America has recently become a hotbed for crypto and web3 service providers. Argentina and Colombia currently rank 13th and 15th out of 146 in the global crypto adoption index in 2022, according to research from Chainalysis. 

Matt Shroder, Binance’s Global VP and Regional Manager, expressed his excitement at the partnership with Alianza In and the Argentine Chamber of Fintech, which has already incorporated more than 230 companies specializing in finance and technology operating in the country. 

Binance is pursuing amenable regulatory frameworks for crypto across countries and has already gained regulatory approval in all G7 countries.

Binance secured regulatory approval to operate in Sweden. However, the exchange has not found life easy in the US, as the SEC recently questioned its financial ability to handle its acquisition of the now-defunct Voyager Digital.