Chilean Crypto Exchange Buda.com launched in Argentina

Buda.com has opened in Argentina, providing 4 cryptos: pocessing in 3 other countries, the exchange claims Argentina may become its most important market
30 May 2018   2233

Chilean cryptocurrency exchange Buda.com started operations in Argentina on May 28. Presently working in Peru, Colombia, Chile and now Argentina, Buda.com has more than 80,000 users. 

Cryptocurrencies can have a positive effect on the functioning of the Argentine financial industry and, particularly, on giving access and lowering the uncertainty of users and how they interact economically on the Internet.
Pablo Chávez
General Manager, Buda.com

Chávez reported that initially “the cryptocurrencies that will be available will be bitcoin, ether and bitcoin cash,” but the company will also soon support litecoin.  “Initially we will be offering the market service, providing the platform for users who want to buy or sell cryptocurrencies in Argentine pesos.” 

One of the main differences we see with the rest of the region, is that in Argentina there is a community around cryptocurrencies, which have been working for years with a process of education and closeness to banking entities.
Pablo Chávez
General Manager, Buda.com

Concerning the firm’s venture into the Argentine market, Chávez supposes that Buda.com “should become one of the largest in the Latin American continent,” adding that he awaits its transaction volumes to reach “close to USD 20 million per month by the end of 2018.”

At the same time, at its homeland, Buda.com is struggling to gain its bank accounts reopened. The cyptocurrency rexchange filed a lawsuit against ten banks in April after they shuttered the accounts of crypto exchanges.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   261

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.