Leading cryptocurrency exchange, OKEx, is embracing the Latin American cryptocurrency market by launching its new fiat gateway for 3 native fiat currencies.
In line with a recent official announcement published on 3rd June, OKEx users will now be able to purchase Bitcoin [BTC] & Ethereum [ETH] in exchange for Argentina peso [ARS], the Brazilian real [BRL], along with Mexican peso [MXN] via an immediate bank transfer.
OKEx & Settle Network Partnership
OKEx’s partnership with a firm called Settle Network that allowed them to permit these features. Settle Network is claimed to be the largest digital settlement network operational within Latin America . The new service is offered via Latamex, Settle Network’s proprietary product. Latamex is meant to unlock cryptocurrency purchases employing native currencies within Latin America.
The CEO of OKEx, Jay Hao, highlighted that the cooperation will permit OKEx to operate with the LATAM market in a compliant way. The officials promised that OKEx will expand to add several more cryptocurrencies “to permit more users to buy cryptocurrencies more conveniently.”
Following Binance Exchange Footprints
OKEx isn’t the primary major exchange to implement Settle Network’s Latamex. Recently Binance, the world’s largest cryptocurrency exchange, in partnership with Settle Network offered a similar feature in late 2019. As reported, Binance’s LATAM offering featured BTC, ETH along with Binance’s native token BNB and proprietary stablecoin, BUSD. The gateway was initially available for ARS and BRL.