MIAMI, October 26, 2022 /PRNewswire/ — Inswitch, a leader in embedded financial technology and payments infrastructure, and Binance, the world’s leading blockchain ecosystem and cryptocurrency Infrastructure providers, launch on/off ramp services in a partnership enabling people to buy and sell cryptocurrencies in the context of LATAM crypto Assumption.
The company’s on/off ramp services are integrated with major payment methods, banks and local currencies across 10 countries in LATAM, allowing users to exchange fiat currencies and digital assets using their Binance wallets, the largest operation between the two Partner.
An “on ramp” service for fiat money cryptocurrency allows exchange of fiat currencies (government-issued currency) into cryptocurrencies (Bitcoin, ether, Etc.). With fiat currencies being by far the most widely used form of currency around the world, exchanging fiat is the most accessible method of obtaining cryptocurrencies. In contrast, an “off-ramp” service for fiat money cryptocurrency enables the exchange of cryptocurrencies into fiat money.
Ronald AlvarengaCEO of Inswitch, commented, “We are working to make the full buy and sell experience crypto more engaging and effortless to get more users into LATAM crypto Market with on/off ramp services for new and existing cryptocurrency User. With a simple and user-friendly user experience and easily integrated APIs, companies can expand their capabilities and functions and become the trusted wallets of choice for the next billion cryptocurrency User”.
Lara LegroDirector Fiat LATAM of Binance, added: “We are very excited about this partnership with Inswitch. At Binance, our focus is always on our customers, we strive to provide them with the smoothest, most secure and streamlined payment experience. We understand the specifics of each country in the region and this partnership will allow us to reach a higher number of users in Latam while maintaining our core mission of financial inclusion.”
Inswitch’s secure, fast, and easy-to-use on/off ramp payment lanes avoid the limitations and hassles of the legacy financial system, allowing users to easily withdraw fiat funds that don’t take days to process.
Interest in using cryptocurrencies for everyday transactions is growing day by day around the world. Therefore, it is important to have a solution that allows fiat currency exchange crypto and vice versa. This partnership between Inswitch and Binance makes Inswitch’s embedded finance platform a great choice to fill this need.
About Inswitch
Inswitch is a global leader in embedded financial technology, helping businesses and organizations rapidly implement their own digital financial services. With Inswitch’s API-based Fintech-as-a-Service platform, any company can become a fintech and choose the best solution for their specific needs. All with a fast, zero-friction go-to-market strategy and utilizing Inswitch’s global network for cash, banking, credit/debit cards, issuance and payments.
About Binance:
Binance is the world’s leading blockchain and cryptocurrency Infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing money freedom for users and offers an unmatched portfolio crypto Products and offerings including trade and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions and more. Visit https://www.binance.com for more information.
Contact:
Liber Fernandez – Chief Commercial Officer at Inswitch
+598 99 666 470
[email protected]
https://inswitch.com/
@Inswitch
@inswitch
SOURCE Inswitch
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