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   1709

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 to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   158

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.
 

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.