Binance, the world's largest cryptocurrency exchange by volume, has expanded its services and now allows its users in Argentina to convert their local currency into various digital assets. With Maximiliano Hinz, director of Binance Latam Cono Sur, expressing his excitement with the development and calling it a move towards financial inclusion, the initiative is a clear sign of Binance’s enduring commitment to serve its customers.

Argentina's high inflation rate of over 102% is contributing to the country’s increasing attitude towards cryptocurrencies, which are seen as a viable financial alternative. The local authorities have also shown support by allowing tax payments in digital currencies in Mendoza province since 2020. El Salvador took the idea even further by making Bitcoin a legal tender and actively buying the currency during the worst of the 'cryptocol winter'.

Brazil is also in the news with regards to digital assets; in 2023 Binance launched a crypto debit card with Mastercard, and Coinbase integrated the country's central bank's Pix payments system. Even smaller companies have made a splash; a Buffett-backed Brazilian neobank Numbank has seen its digital asset service gain nearly two million users only months after launching. Similarly, an Argentinian crypto exchange, Ripio, ventured into the US last year.

In conclusion, South America has shown enthusiasm for digital assets and has made some bold moves in recent years to advance the adoption of these new-age financial tools. The large and small players on the continent attest to its enthusiasm, with evidence of large companies such as Binance and Coinbase, as well as smaller firms like Ripio and Numbank, pushing the boundaries to make digital assets even more accessible.



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